Natural Gas and Oil Forecast: WTI Eyes $115 as Truce Rumors Spark Profit-Taking – What's Next for Oil?

WTI crude is trading around $111 as markets weigh a potential 45-day US-Iran truce versus persistent Strait of Hormuz risks; traders are eyeing a near-term upside target of $115.40. The development is likely to keep oil volatility elevated: a confirmed truce would ease immediate geopolitical risk and cap prices, while any disruption around Hormuz could drive material upside for the sector.

Analysis

WTI crude is trading around $111 as markets weigh a potential 45-day US-Iran truce versus persistent Strait of Hormuz risks; traders are eyeing a near-term upside target of $115.40. The development is likely to keep oil volatility elevated: a confirmed truce would ease immediate geopolitical risk and cap prices, while any disruption around Hormuz could drive material upside for the sector.