{
  "id": 764990,
  "title": "WTI Oil Price Forecast: Momentum turns flat as Bollinger Bands expand",
  "url": "https://urgent.news/2026/08/13/wti-oil-price-forecast-momentum-turns-flat-as-bollinger-bands-expand",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-13T12:34:20.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/wti-oil-price-forecast-momentum-turns-flat-as-bollinger-bands-expand-202608131234"
  },
  "original_language": "en",
  "account": "WTI Oil experienced a brief decline on Thursday, as traders considered weaker demand expectations from OPEC and the IEA alongside Middle Eastern supply disruptions. The price settled around $80.50 per barrel, a 1.35% decrease from the previous trading session. The Strait of Hormuz remains closed, with both the US and Iran claiming control, contributing to geopolitical risks and limiting WTI's price drop.\n\nOPEC anticipates global oil demand to increase by 580,000 barrels per day (bpd) in 2026, down from a prior forecast of 780,000 bpd. The IEA is even more pessimistic, predicting a 1.6 million bpd decline in demand over the same timeframe. Meanwhile, technical indicators show neutral momentum, despite heightened price volatility. WTI's daily chart trades below the 20-day Bollinger Band Simple Moving Average ($81.63), with expanding bands indicating rising volatility. The upper band stands at $90.13, while the lower band is at $73.12. The Relative Strength Index (RSI) hovers around the neutral 50 mark, and the Moving Average Convergence Divergence (MACD) indicator is near the zero line, both suggesting limited directional momentum.\n\nImmediate resistance is at the 20-day SMA ($81.63), while a sustained break above this level could expose the upper Bollinger Band ($90.13). Conversely, if the decline persists, the lower band ($73.12) could provide support. WTI Oil is a light, sweet crude sourced in the United States and traded internationally. Supply and demand dynamics, geopolitical events, OPEC decisions, and the US Dollar's value all influence WTI's price. Weekly API and EIA inventory reports also impact the price, as changes in inventories reflect shifting supply and demand.",
  "summary": "West Texas Intermediate (WTI) Oil trades modestly lower on Thursday as traders weigh weaker demand forecasts from OPEC and the International Energy Agency (IEA) against supply disruptions in the Middle East. At the time of writing, WTI trades around $80.50 per barrel, down 1.35% on the day.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "WTI Price Forecast: Prolonged energy supply concerns remain key tailwind",
        "url": "https://urgent.news/2026/08/13/wti-price-forecast-prolonged-energy-supply-concerns-remain-key",
        "published": "2026-08-13T07:36:47.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}