WTI crude oil recovered more than $1.5 on
geopolitical tensions escalation.
The fear of attack on Israel by Iran supports
crude oil prices at lower levels. The
International Energy Association lowered the
2024 oil demand by 130000 bpd to 1.2 million
barrels per day.
Geopolitical tension- cease-fire talks progress
oetween Israel and Hamas. (Negative for
crude)
The immediate resistance is around $86.60.
Any jump above targets $87.20/$88.25/$90. On
the lower side, near-term support is around
$85.60. Any breach below will drag the
commodity down to $85/$84.50/$84/$83.20.

Signal
Buy $85 with SL around $84 for a TP of $89
Sell $89 with SL around $90 for a TP of $86