WTI sticks to gains above $90.00 as US-Iran tensions persist; lacks bullish conviction
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – gains positive traction for the second straight day on Friday, extending its recovery from the $86.00 mark, or an over two-month low, touched the previous day.
West Texas Intermediate (WTI) crude oil prices are holding steady above $90.00, despite ongoing tensions between the United States and Iran. The benchmark US Crude Oil price has recovered from a low of $86.00, marking a two-month low, and is currently up around 0.50% for the day. However, the market does not exhibit strong bullish sentiment, as WTI is trading just above the psychologically significant $90.00 level.
The ongoing US-Iran conflict and geopolitical uncertainties continue to weigh on the commodity, potentially limiting any significant upside in crude oil prices.
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