Crude Oil (WTI)

Key insight

$85.00 round-number resistance caps upside; break above opens $87.00 (June swing high). Failure to hold $83.50 (50-day MA) flips short-term bias bearish toward $80.50.

Holds $84.92, flat within a $82–$87 consolidation band — no directional catalyst strong enough to break either boundary as OPEC+ supply discipline offsets demand uncertainty.

Main risk

China Demand Slowdown

Slowing Chinese industrial output and weak refinery throughput threaten the demand pillar underpinning $83–$85 support.