Crude Oil (WTI)

Key insight

$91.05 sits between the 50-day MA near $90.20 and the $93.50 supply zone. Lose $90.20 and the next floor is the $87.80 August swing low — a clean 3.5% downside open from here.

Trades at $91.05, down 1.0% on the session — rejected from the $93–94 resistance band with equities also red, signalling risk-off pressure squeezing demand expectations.

Main risk

OPEC+ surprise output cut reversal

Unscheduled OPEC+ output increase would flip supply balance — $93.50 resistance breaks and shorts face a rapid squeeze toward $96.