Crude Oil (WTI)
BullishArchived analysis from Oct 23, 2026, 1:26 PM
Key insight
$100 psychological resistance is the line — break and hold above it opens $105. Aramco Dhahran evacuation and tanker strikes add acute supply-shock risk; RSI at 64 leaves room before overbought.
Holds near five-week high at $98.26; Houthi strikes on Aramco, tanker attacks in Strait of Hormuz, and US-Israel-Iran strike threat underpin a $6–8 geopolitical risk premium.
Main risk
Post-Midterm US-Israel Strike on Iran
Strike on Iranian energy infrastructure could remove 1–3 mb/d; risk crystallises after US midterms, making $100–$110 a realistic near-term range.
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