Crude Oil (WTI)

Key insight

93.31 tests the Aug swing high at 93.50 — break and close above opens 95.00 round number then the 2026 YTD high at 97.40. Equities sliding (-0.4% S&P) limits risk appetite but USD softness (EUR/USD 1.1371) supports commodity demand.

93.31 holds above the 50-day MA near 90.50 and the 100-day MA near 88.00; +1.4% daily gain confirms demand at key technical support with supply-side constraints intact.

Main risk

Equity selloff / risk-off contagion

S&P 500 -0.4%, Nasdaq -0.8% today — sustained equity weakness drives macro risk-off selling in crude, targeting 50-day MA at 90.50.