Natural Gas and Oil Forecast: Middle East Risk Keeps Oil Near $90 – Breakout or Bust?

WTI crude is struggling to hold above $92 resistance as opposing forces from Middle East tensions and domestic supply keep prices range-bound. The article highlights a potential downside test toward $85 if the current downward channel remains intact, but no breakout has occurred yet. Near-term direction appears driven by geopolitical risk versus supply fundamentals rather than a single new catalyst.

Analysis

WTI crude is struggling to hold above $92 resistance as opposing forces from Middle East tensions and domestic supply keep prices range-bound. The article highlights a potential downside test toward $85 if the current downward channel remains intact, but no breakout has occurred yet. Near-term direction appears driven by geopolitical risk versus supply fundamentals rather than a single new catalyst.