Snapshot: WTI Crude trades at 95.10, down 2.35% on the session. President Trump’s comments reinforcing the Iran ceasefire are weighing on prices despite ongoing Strait of Hormuz disruptions. Watch for the 08:30 ET US employment data, especially Non-Farm Payrolls, for further direction.
- Key support is seen at the day’s low of 93.86.
- The risk of renewed clashes between US and Iranian forces in the Strait of Hormuz remains a potential upside catalyst.
Bias into NY: Expect continued downside pressure on US Crude as long as diplomatic hopes persist; a break below 93.86 opens the door to further losses. The weaker DXY is offering only limited support.