West Texas Intermediary (WTI) Crude Oil is seeing a geopolitical tension-fueled spike on Wednesday as the Gaza conflict continues to escalate, with Is
WTI Crude Oil is climbing back up the charts as the Israel-Hamas conflict escalates once more. Calls for a cease-fire to allow humanitarian aid to civilians in Gazamet with rejection,fury. EIA barrel counts rose more than expected, demand concerns to weigh on Crude Oil when geopolitical fears abate. rael vehemently rejecting calls for a ceasefire to allow humanitarian aid into the Gaza Strip for civilians trapped in the conflict zone.
Energy markets will be keeping an eye on the Gaza Strip conflict as the week progresses, with UN fuel supplies in Gaza set to run dry either today or tomorrow, and continued destabilization in the region will leave barrel investors wary of any possible spillover into the nearby Strait of Hormuz, where nearly a fifth of all global crude production passes through the chokepoint. WTI Technical Outlook WTI Crude Oil hit an intraday low of $81.90 before hitting a rally into $84.
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