Crude Oil (WTI)

Key insight

102.22 trades above key 100.00 round number; break above 104.50 (Aug swing high) opens 107.00. US tech selloff (-1.9% Nasdaq) has not dragged oil lower — supply-side bid intact.

102.22 holds above the 100.00 psychological floor and 50-day MA near 99.50 — supply discipline from OPEC+ keeps a bid under price despite US equity weakness.

Main risk

US Equity Demand Signal Collapse

S&P 500 -0.7%, Nasdaq -1.9% on 29 Oct — sustained equity drawdown signals demand destruction risk, threatening the 100.00 support floor.