Crude Oil (WTI)

Key insight

84.43 trades above key 50-day MA while S&P 500 falls 0.5% — WTI decoupling from equity weakness points to supply-side support; break above 85.50 (Aug swing high) opens 87.80.

84.43 holds above the 50-day MA (~83.00), with WTI posting a +0.9% gain as equities slip — a classic risk-on divergence signalling commodity-specific bid from supply concerns.

Main risk

China Demand Slowdown

Weakening Chinese industrial data risks cutting the demand bid; break below 82.00 support would confirm demand-led sell-off.