Snapshot: WTI crude is trading at $90.52, up 1.20% on the session, rebounding from recent losses as rising tensions between the US and Iran raise concerns about supply disruptions. Today’s key event is the 08:30 ET release of Core PCE and Prelim GDP figures, which could influence the dollar and broader risk sentiment.
- WTI’s intraday high of $92.51 marks initial resistance; a break above this level could signal further upside.
- Watch for volatility around the 08:30 ET data releases; weaker growth and stable inflation could weigh on the dollar and boost crude, but the reverse is also true.
Bias into NY: We are cautiously bullish on WTI into the NY session, supported by ongoing geopolitical tensions; a break above $92.51 would suggest further upside toward $95, though stronger-than-expected GDP could temper gains by supporting the dollar.