Cushing

Crude oil prices remain supported as traders focus on tightening inventories, lower Hormuz flows and refinery attack risks. WTI and Brent are testing key technical levels that could determine whether the rally extends or gives way to a corrective pullback.

Crude prices pulled back as renewed US efforts to restart talks with Tehran tempered fears tied to Gulf attacks. Still, tighter US inventories and firm export demand kept the decline contained, while natural gas remained capped by a weak forward curve.

Crude oil futures dropped nearly 8% as traders priced in hopes of progress around the Strait of Hormuz, even as tanker movement has yet to confirm a reliable recovery. Tight U.S. crude inventories, weak demand signals, OPEC+ quota increases and shipping risks through Hormuz and Bab el-Mandeb now shape the next move for WTI and Brent.