Crude Oil (WTI)
BearishArchived analysis from Oct 19, 2026, 1:27 PM
Key insight
$100 round number rejected on first test — Trump's Graham Act waiver reopens Russian supply channel, unwinding the week-long Hormuz/Houthi risk premium. Hold below $100 confirms bearish reversal; reclaim needed to relaunch bull case.
Falls -1.74% to $97.56 as Trump's Russia sanctions waiver deflates geopolitical risk premium built over prior week's 6.5% rally; $100 round number now firm resistance.
Main risk
Strait of Hormuz Supply Disruption
Escalating vessel attacks in Hormuz cap downside; any confirmed tanker blockage can spike WTI $3–5 intraday against the bearish trend.
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