Crude Oil (WTI)

Key insight

89.89 consolidates just below the 91.50 September swing high — a clean break there targets the 2026 YTD high near 94.00 and puts 97.00 in view within weeks.

89.89 holds above the 200-day MA near 88.50, keeping the uptrend intact. OPEC+ supply discipline and elevated geopolitical risk premium underpin the bid; a push through 91.50 opens 94.00.

Main risk

Global Demand Slowdown Risk

Softer China PMI and European recession fears could cut demand estimates, dragging WTI back through 88.50 and exposing the 85.00 support zone.