Crude Oil (WTI)

Key insight

94.07 sits 1.5% below key resistance at 95.50 (Sept swing high). Break above opens $98–$100. Failure to clear that level on this third test risks a pullback to 91.50 support. Direction decided at 95.50.

94.07 holds above the 200-day MA near 91.50 — WTI trades at a 2026 elevated range with supply-side discipline from OPEC+ offsetting demand headwinds from a strong USD at 158.2 JPY.

Main risk

USD/JPY strength above 158

USD/JPY at 158.2 keeps dollar-denominated oil expensive for importers; sustained USD strength suppresses demand and caps WTI upside near 95.50.