WTI rallies into $65 on Iran risk premium despite massive EIA inventory build

💡 DMK Insight

WTI crude oil’s jump above $65.00 signals heightened geopolitical tensions, and here’s why that matters: The recent surge is largely driven by escalating tensions between the US and Iran, which historically have led to supply concerns in the oil market. Traders should be aware that geopolitical risks can create volatility, and this spike could attract both short-term speculators and longer-term investors looking for a hedge against uncertainty. If prices maintain above the $65.00 mark, we might see a bullish trend develop, potentially targeting higher resistance levels. However, if tensions ease or if there’s a significant increase in US oil production, we could see a rapid pullback. It’s also worth noting that this situation could ripple through related markets, such as energy stocks and ETFs. Keep an eye on the broader market sentiment and any news that could impact supply dynamics. For now, watch for any price action around $65.00—if it holds, it could signal further upward momentum, but a drop below could indicate a reversal.