WTI jumps roughly 8% toward $100 as US blockades Strait of Hormuz

💡 DMK Insight

WTI’s 8% jump is significant, signaling a potential retest of the $100 mark. This bullish gap suggests strong buying interest, possibly driven by geopolitical tensions or supply constraints. Traders should watch for resistance around $100, as a breakout could trigger further momentum, while a failure to hold above this level might lead to profit-taking. Keep an eye on related assets like Brent crude, which often moves in tandem with WTI, and monitor the broader energy sector for spillover effects. Additionally, consider the impact of inventory reports and OPEC+ decisions in the coming weeks, as these could influence price direction significantly. The real story is whether this rally can sustain itself or if it’s just a short-term spike before a correction.