Crude Oil (WTI)

Key insight

$90.93 holds 3-month highs as two supertankers hit in Strait of Hormuz Mon night — next resistance at $93.50 Aug swing high; a confirmed Hormuz blockage targets $100+.

Surged ~10% last week on US-Iran hostilities; war premium intact at $90.93 with Hormuz disruption risk keeping supply-shock bid alive above $90 key round number.

Main risk

Iran-Oman Hormuz deal collapses risk

Iran-Oman shipping deal nearing completion; if talks collapse, Hormuz closure risk spikes — break above $93.50 accelerates toward $100.