All outlooks
Daily outlookArticle · 3 minBullish

WTI crude holds above $100 as Gulf supply routes stay shut

· WTI · FXpips research desk

Oil rallied more than 9% last week to a four-month high near $103 after drone attacks shut Saudi Arabia’s East-West pipeline, a key route around the Strait of Hormuz. Weekend talks on Hormuz shipping were postponed.

What’s driving it

  • Saudi East-West pipeline still shut
  • Hormuz talks with Gulf states postponed
  • Energy costs already lifting US and UK inflation

Key levels

Resistance

104.00108.00

Support

100.0096.50

Scenarios

Bullish caseFurther disruption and a hold above $100 target $104, then $108.
Bearish caseProgress on reopening routes and a close below $100 open $96.50.

General market commentary for education, not personal advice. Levels can shift quickly around news.

Want setups like this as live signals?Entry, stop and target, straight to Telegram.