Crude Oil (WTI)

Key insight

$84.31 sits in no-man's land between the 200-day MA near $82.50 and the July swing high at $86.20 — a break of either defines the next 5-point move.

Holds $84.31 — flat 24h, caught between OPEC+ supply discipline and softening China demand signals; no directional conviction until $86 resistance or $82 support breaks.

Main risk

China demand slowdown

Weakening Chinese manufacturing PMI and sluggish refinery runs cap the demand ceiling; a break below $82.50 (200-day MA) opens $78.