Indices and commodities
Active
USOIL
Long
WTI Oil Momentum Toward $110
Rationale
TradingView idea: WTI Crude Oil: Geopolitical Risk & Hormuz Disruptions for TVC:USOIL by melikatrader94
TradingView symbol: USOIL
Hi!
WTI crude has gone through several sharp repricings as geopolitical developments repeatedly changed the market’s perception of supply risk.
The first major move came with the US & Israel vs. Iran escalation, when WTI rallied from around $64 to nearly $118. The extreme move was followed by a significant reversal as the initial risk premium faded.
The next phase came with the Hormuz closure and naval blockade, pushing crude from the mid-$80s toward $110. However, the rally failed to hold, …
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