Crude Oil (WTI)

Key insight

$86.46 clears the 200-day MA at $85.20 — first clean close above it in weeks. Bulls need $87.50 (Aug swing high) to hold for momentum to extend toward $90.

Surges +2.67% to $86.46, breaking above the 200-day MA at $85.20 on supply-side tension; equities sell off while crude bids — classic risk-off rotation into hard commodities.

Main risk

Global demand destruction risk

Equities down sharply across US/Europe on Aug 20 — sustained risk-off signals growth slowdown that undercuts crude demand expectations at $86.