WTI Eyes Geopolitical RiskWest Texas Intermediate Crude Oil cashBLACKBULL:WTIYES_Group- Last Week Recap | 31 AUG–4 SEP 2026 WTI surged over the past week as tensions between the United States and Iran intensified, raising concerns over potential Supply Disruptions and the transportation of crude oil through the Strait of Hormuz. The significant decline in vessel traffic through the Strait further heightened concerns over global oil supply. Meanwhile, Ukrainian attacks on Russian refineries added to concerns over potential Supply Disruptions in the global oil market. By the end of the week, WTI closed around $91.48/barrel, gaining nearly 10% WoW. Oil prices also received additional support from a larger-than-expected decline in US Crude Inventories, which fell by approximately 4.5 million barrels, reinforcing buying interest and concerns over tighter supply conditions. - Fundamental Analysis | 7–11 SEP 2026 WTI is expected to remain Bullish but highly volatile, with Geopolitical Risk and Supply Disruptions continuing to be the key drivers amid ongoing tensions between the US and Iran. If the conflict remains prolonged and oil transportation through the Strait of Hormuz continues to face restrictions, the market could maintain a significant Geopolitical Risk Premium, providing further support for WTI prices. Meanwhile, US Crude Inventories will remain an important factor for short-term price direction. Following a larger-than-expected decline in US crude stocks last week, tighter supply conditions could continue to support oil prices. If inventories decline further, this could strengthen the bullish momentum, while a renewed increase in inventories could limit the upside. However, the market should remain cautious about Global Demand, particularly from China and the global economy, which continues to show signs of slowing growth. This could limit the medium-term upside for WTI. Overall: WTI maintains a Bullish Bias, with the market primarily focusing on the US–Iran Conflict, Strait of Hormuz, US Crude Inventories, and Global Demand. If tensions in the Middle East remain elevated, WTI could continue to move higher. However, any signs of negotiations or a normalization of Supply conditions could trigger Take Profit and a sharp correction. Technical Analysis — WTI 4H WTI has a Bullish outlook, with the price remaining above the EMA and EMA200 and continuing to follow an upward Trendline. Although the market is experiencing some short-term consolidation, the broader structure remains intact. If the price can break out above 93.68, it could continue higher toward the 95.00 target. Conversely, a break below the Trendline and key support levels could lead to further consolidation and weaken the current bullish momentum. Bias: Bullish Resistance: 93.68 / 95.00 Support: 91.39 / 90.74 Target: 95.00 Cut Loss: Below 90.74