Natural Gas and Oil Forecast: Oil Plummets 19% on Ceasefire – Will WTI Hold $94.00?

WTI crude stabilized around $98 after a historic 19% plunge driven by easing Middle East tensions, with the 0.618 Fibonacci retracement identified as the critical technical floor. The swift unwind of the geopolitical risk premium triggered sharp volatility and may pressure energy-sector assets and near-term inflation metrics; monitor whether the $98/0.618 level holds and any renewed geopolitical developments.

Analysis

WTI crude stabilized around $98 after a historic 19% plunge driven by easing Middle East tensions, with the 0.618 Fibonacci retracement identified as the critical technical floor. The swift unwind of the geopolitical risk premium triggered sharp volatility and may pressure energy-sector assets and near-term inflation metrics; monitor whether the $98/0.618 level holds and any renewed geopolitical developments.