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WTI rises above $86 as US-Iran tensions keep supply risk bid
WTI is trading above the 100-day SMA after US forces struck two rocket launchers in Iran’s Larak Island area, with further action warnings keeping a geopolitical risk premium supported.
WTI has attracted buyers for a second straight session, pushing the benchmark US crude above $86.00 as market participants look to build momentum past the 100-day simple moving average.
The bullish tone is tied to heightened US-Iran tensions and the standoff over the Strait of Hormuz. FXStreet notes that US forces struck two rocket launchers on Iran’s Larak Island on Sunday, the first such strike since late July, after which Iran launched a counterattack on American air bases in Jordan, and President Donald Trump warned additional military action remains possible.
On the technical side, WTI is holding comfortably above the 38.2% Fibonacci retracement at $82.60, with MACD marginally positive and the RSI around 58, which the outlet says points to buying interest rather than exhaustion.
For levels to watch, resistance is seen at the 50.0% retracement near $87.30, then at the 61.8% level around $92.01. A daily close above $87.30 could open the way for tests near $98.71 and $107.25, while the 100-day SMA around $85.07 is cited as near-term support, followed by $82.60 and deeper cushions at $76.77 and $67.36.
Latest closeWTI crude $86.62 ▲3.9%