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WTI Soars as Israel Strikes Iran, Escalating Tensions and Pushing Prices Beyond $70.00 Target – Neutral View Now in Place.

West Texas Intermediate (WTI) crude 4% surge on Wednesday extends and jumped more than $4 a barrel on Friday after Israel said it struck Iran, raising concerns of escalating tensions in the Middle East that may affect oil supplies.

The US withdrawal from the Middle East comes ahead of a sixth round of nuclear talks with Iran in Oman on Sunday.

Trump has warned of strikes if no deal is reached, while Tehran threatens to retaliate against US bases.

Rising tensions have oil traders concerned about potential supply disruptions.

Technically, the Relative Strength Index (RSI) remains in positive territory but is entering overbought conditions, suggesting caution.

The Moving Average Convergence Divergence (MACD) continues to support the ongoing bullish momentum, while the Average Directional Index (ADX) indicates a strengthening trend.

However, with the $70.00-$ 80 resistance zone now exceeded, the outlook turns neutral in the short term.

Daily Chart West Texas Intermediate (WTI)

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