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Crude Oil Weekly Outlook: Despite escalating Houthi attacks on Saudi Arabia and continuing tensions between the United States and Iran, crude oil prices are now facing major resistance that must be overcome before another bullish rally can be confirmed.
The BRICS summit call for maximum restraint has not removed the security premium in the energy complex, with an unresolved U.S. Iran situation and transit risk through the Strait of Hormuz still in the frame
Crude Oil Weekly Outlook: BRICS Summit Calls for Maximum Restraint as the Energy Crisis Reaches Critical Economic Tipping Points
During recent trading sessions, a new wave of buying momentum has continued to gain relevance around WTI crude oil price action. Over the last three trading sessions, the market has maintained a bullish streak and is now up more than 5.5%, highlighting significant buying pressure in the short term.
WTI crude oil is holding above a declining resistance line that flipped into support, while energy sector stocks press multi year highs.
Crude Oil Weekly Outlook: WTI holds above 7-month resistance as traffic through the Strait of Hormuz remains constrained and US-Iran tensions escalate. Key technical scenarios remain in focus as upside risks mount.
Over the last two trading sessions, WTI crude oil has once again displayed a notable bearish bias, with prices falling nearly 6%. Part of this renewed selling pressure has been driven by recent developments in the Middle East, which have helped temporarily ease the geopolitical tensions that had supported the oil risk premium in previous weeks.
Crude oil prices are keeping a geopolitical premium even as a U.S.-Iran deal looks closer, with WTI and Brent still pricing Strait of Hormuz risk.
Crude Oil Weekly Outlook: WTI crude oil remains supported above $80 as US inventories fall near yearly lows. Explore key technical levels and scenarios guiding oil prices.
US crude inventories are drawing down during peak summer demand while disruptions tied to the Strait of Hormuz keep Middle East supply risk elevated. The walkthrough maps the key levels for WTI crude oil and Brent crude, then looks at how the upcoming US non-farm payrolls report could drive oil market volatility.
Crude oil prices are rising as transport disruptions and geopolitical tensions replace traditional supply concerns as the main market driver. Razan Hilal, FOREX.com Market Analyst, explains why today's crisis differs from the 1973 oil embargo, how maritime security risks are reshaping energy markets, and why the $95–96 area could determine whether oil enters a new inflationary cycle or retreats as geopolitical risks ease.
These remain relevant sessions for WTI crude oil, which has recorded an increase of just over 14% on average over the last 5 trading sessions. This behavior indicates that the buying bias remains important in the short term.
Razan Hilal, FOREX.com Market Analyst, examines the crude oil outlook as renewed US-Iran tensions and attacks around the Strait of Hormuz lift WTI and Brent prices, while rising OPEC+ production and recovering Gulf exports continue to cap upside potential. She explains the key technical levels that could determine whether oil extends its rebound or resumes its broader downtrend into year-end.
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