WTI Crude Oil Wave Analysis

WTI crude oil plunged by more than 7% on 27 July 2026 after the US suspended a series of strikes against Iran over the weekend, raising hopes of a diplomatic solution and the reopening of shipping through the Strait of Hormuz. Brent crude also fell below $90 per barrel. Meanwhile, Bloomberg reported […] The post WTI Analysis: Gap Breaks Short-Term Trend as Price Remains Trapped Between the Poc and Profile Boundary appeared first on ActionForex.

(RTTNews) - Crude oil prices have gone into a tailspin on Monday, extending the losses from Friday's plunge after the U.S. halted nearly two weeks of military attacks against Iran following which near-term oil supply-disruption concerns reduced.

The Houthi threats to shipping in the Red Sea and its chokepoint, the Bab el-Mandeb Strait, have forced at least one oil tanker carrying Saudi crude to Asia to choose the much longer route through the Suez Canal, the Mediterranean, and around Africa. The supertanker Olympic Luck, partially laden with Saudi crude at Yanbu on the Red Sea, transited the Suez Canal into the Mediterranean late on Sunday, according to shipping data monitored by Bloomberg. The U-turn from Bab el-Mandeb indicates that...

China is likely to have increased its crude oil imports this month, with the daily average at 7.8 million barrels, according to calculations by Kpler, as cited by Bloomberg. Refiners have been buying more Russian crude and have seen more tankers arrive from the Middle East, the report noted. The figure could add fuel to oil’s rally, as the July average would be a solid increase from the 6.2 million barrels daily that Chinese refiners imported in June. That was the lowest import rate for China...

The anti-government protests in Libya over power cuts and high electricity bills over the past few days escalated on Tuesday, with protesters entering the Mellitah Oil and Gas complex and threatening to halt gas and fuel supplies for both the domestic and international markets. Libya’s capital Tripoli has been the main stage of protests against the Government of National Unity led by Abdul Hamid Dbeibah. Protesters blocked streets and roads out of the capital earlier this week as a sign of...

Oil prices continued to trend lower in early Asian trade on Tuesday as a fourth night passed without any attacks from either Iran or the United States. At the time of writing, WTI crude was trading at $81.55 per barrel, down 1.28% on the session, while Brent crude had slipped to $87.36 per barrel, a decline of 1.13%. On Monday, President Trump sought to boost hopes of a diplomatic resolution between Washington and Tehran by claiming that the U.S. was engaged in "good talks" with Iran. Iranian...

Crude oil prices are retreating after Brent hit $100 again last week as the United States and Iran took a break from hostilities over the weekend. Yet with the outcome of the war still highly uncertain, the outlook for stock markets has dimmed. Add to that Big Tech’s AI spending binge and fresh warnings about energy commodity shortages, and we are looking at extended market turbulence ahead. Last week saw a rare pile-up of adverse market developments that must have shaken the confidence of many...

Chinese buyers that received the first U.S. LNG cargo in over a year plan to resell it on another market to profit from higher prices elsewhere and avoid paying a 25% tariff, sources familiar with the plans told Bloomberg on Monday. The Yangpu port in south China earlier this month received a cargo of U.S. LNG from the Plaquemines LNG export terminal operated by Venture Global in Louisiana’s Plaquemines Parish. This was the first U.S. shipment of gas to China in more than a year. But the gas...

Oil prices plunged by more than 5% in early Asian trade on Monday as the U.S. and Iran halted attacks after two weeks of escalation that had driven Brent above $100. At the time of writing, WTI crude was trading at $84.47, down 5.39%, while Brent crude had fallen to $91.80, a decline of 5.15%. The retreat came after Washington signaled on Friday that it would temporarily halt its bombing campaign against Iran. Talking to Face the Nation on Sunday, U.S. Ambassador to the United Nations Mike...

Oil prices gave up earlier gains on Friday after reports that Pakistan is trying to broker a return to U.S.-Iran nuclear negotiations. China is strongly backing the effort as the conflict and the closure of the Strait of Hormuz continue to threaten its energy security and weigh on its economy. Brent crude for September delivery fell 4.4% to trade at $96.36 per barrel at 1.35 pm ET while WTI crude for September delivery was down 3.6% to change hands at $88.86/bbl. However, Standard Chartered...

U.S. airlines are grappling with soaring jet fuel costs again after the return of hostilities in the Middle East shattered the three-week-long U.S.-Iran ‘deal to make a deal’ and sent Brent crude oil prices soaring past $100 per barrel again. The U.S. jet fuel market has been tightening since March, although there haven’t been concerns about any shortages in America, unlike in Europe, which in April was supposed to run out of stockpiles within six weeks. Europe didn’t see shortages, but the...

Argentina’s massive shale oil and gas boom is going from strength to strength. The economically crisis-prone South American country yet again reported record monthly oil and natural gas production for May 2026. This couldn’t come at a better time for Argentina and South America. Rising global geopolitical risks, notably due to war in the Middle East, and domestic economic hazards hold the potential to derail the significant economic gains Argentina has made over the last two years. Ministry of...