WTI Rebounds as Iran Concerns Return to Center Stage
Oil bounces after U.S. inventory draw
West Texas Intermediate (WTI) crude recovered roughly 1%, trading around $64.92 today, as U.S. stockpiles dropped more than expected. A surprise 5.8 million‑barrel draw indicated stronger demand, reviving oil prices after recent volatility.
Middle East developments influence sentiment
Calmer headlines from the Iran‑Israel ceasefire eased geopolitical risk, but investors remained wary of supply uncertainties. Talks of OPEC+ output timing and possible disruptions near the Strait of Hormuz kept oil traders alert.
What technical levels suggest next moves
Brent crude is hovering around $67.7 and WTI in the mid‑$60s range, a level analysts view as equilibrium. If U.S. demand continues strong and geopolitical pressure builds, oil could test $70–75 before stabilizing.