WTI Crude Prices Normalize but Hormuz Politics Still Cloud the Outlook

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WTI crude oil prices, the Strait of Hormuz and Middle East geopolitics remain the dominant drivers of oil market sentiment heading into Q3 2026. Razan Hilal, FOREX.com Market Analyst, explains why geopolitical uncertainty still supports a residual risk premium, where the key technical support and resistance levels lie, and what could trigger the next major move in crude oil prices.

This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by Forex.com.

 

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