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Figure Heloc 
US benchmark West Texas Intermediate Oil (WTI) depreciated about $5 from session highs on Monday, hitting lows near $101.00 per barrel, from $106.44 highs, weighed by news that the US and Iran might be bringing positions closer to a peace deal through international intermediaries.
💡 DMK Insight
WTI’s drop to around $101 per barrel signals shifting dynamics in oil markets. The recent decline from $106.44 highlights how geopolitical developments can swiftly impact prices. Traders should note that a potential peace deal between the US and Iran could lead to increased oil supply, which historically pressures prices downward. If negotiations progress, we might see WTI testing support levels around $100, a key psychological barrier. On the flip side, if tensions escalate, we could see a rapid rebound, making it crucial to monitor news updates closely. For those trading oil, keep an eye on the daily chart for any signs of reversal or further declines. A break below $100 could trigger stop-losses and accelerate selling, while a bounce back could signal a buying opportunity if accompanied by strong volume. Watch for any announcements regarding the negotiations, as they could create volatility in the short term.
📮 Takeaway
Watch for WTI’s reaction around the $100 level; a break could signal further declines, while a bounce may present a buying opportunity.
