WTI crude oil surged 5% on a false alarm attack in Tehran before quickly retracing gains, underscoring fragile sentiment amid US–Iran tensions. Despite geopolitical risks, declining implied volatility and easing backwardation suggest limited upside. Technically, oil is testing range resistance near the 20-day moving average, with bearish signals pointing to a potential mean reversion decline toward $90.50 or lower unless $102.25 is decisively cleared.
23-04-2026 05:36 GMT
by Kelvin Wong
