Crude Oil (WTI)

Key insight

$87.30 breaks above Aug swing high; Hormuz ceasefire talks collapsed, Iranian retaliation hits UAE and Jordan — supply shock driver intact. Next resistance at $90.00 round number.

Surges +2.47% to $87.30 as US-Iran hostilities resume — Larak Island strikes end month-long ceasefire hope, Hormuz throughput down ~8 mb/d vs 20 mb/d pre-war baseline.

Main risk

Hormuz Ceasefire Surprise

Surprise diplomatic deal reopening the Strait removes the core supply-shock premium; WTI could flush back toward $78.00 in 48–72 hours.