Crude Oil (WTI)

Key insight

$96 rejected again — price stuck below the $97.50 supply zone with no conviction bid. Break of $94.50 (200-day MA) opens $91.80 rapidly; only a close above $97.50 flips the tape.

Fades off the $97 resistance zone, -0.70% today; 200-day MA near $94.50 looms as next magnet with demand-side uncertainty keeping rallies capped.

Main risk

OPEC+ surprise output cut reversal

Any OPEC+ signal to reverse voluntary cuts could spike WTI $4-6 intraday, blowing stops above $97.50.