USOILCrude Oil (WTI)
88.48
-0.23%
SUPPORT:83.478.32
RESISTANCE:93.5698.64
Past
What happened
WTI slipped to $88.48 (-0.23%), giving back overnight gains as Hormuz ceasefire optimism overcame US-strike concerns. Tight range as traders waited for the next Iran headline.
Why
Why it matters
Oil is trading the binary — every Iran news cycle whipsaws the tape. The underlying physical market remains tight (OPEC+ disciplined), but headline risk dominates positioning until resolution.
Watch
What to watch
Any Hormuz deal confirmation pushes to $85; failure or fresh escalation reopens $95. Weekly EIA inventories Wednesday remain in the background. $90 is the headline-driven pivot.
HEADLINES
- Rising prices take center stage as Fed's preferred inflation measure heated up further in AprilYahoo Finance
- Dow Jones Futures: Stock Market Hits Highs On U.S.-Iran Deal; Dell Surges On EarningsInvestor's Business Daily
- S&P 500, Nasdaq And Dow Close At Record Highs Amid Positive Reports Of US-Iran Ceasefire Negotiations — IBM, SNOW, CZR, AKTX, LLY In FocusStocktwits
- Top Big Oil Stocks to Buy NowZacks
- Oil, stocks mixed as US-Iran deal awaits Trump approvalAFP