Crude Oil (WTI)
BullishArchived analysis from Aug 24, 2026, 3:36 AM
Key insight
Rejected at $87–$88 resistance zone; today's -1.6% pullback tests the $85 round number — hold here and the Hormuz premium stays intact for a re-attack on $88.
Hormuz blockage and collapsed Iran diplomacy underpin a geopolitical bid; $87–$88 resistance capped last week's rally, but supply-risk premium holds WTI above $85.
Main risk
US Crude Inventory Surge (+4.4M bbl)
4.4M-barrel weekly build signals demand softness; breaks the supply-tightness narrative underpinning the Hormuz geopolitical premium.
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