10 Week Moving Average

Oil prices recovered in early Asian trading as Gulf shipping risks and storm-related shutdowns in the US Gulf of Mexico raised supply concerns. Technical traders are watching whether WTI can clear $93 and Brent can break $110 to extend the rebound.

Oil prices rose for a second day as traders weighed unresolved US-Iran talks and the risk of shipping disruption through the Strait of Hormuz. WTI is holding above key support near $93, while Brent remains supported above $100 as technical traders watch upside targets at $104 and $113.