WTI crude oil prices hold steady above $63 per barrel, maintaining a high consolidation range despite advancements in the second round of U.S.-Iran negotiations. Traders continue to factor in an elevated risk premium linked to geopolitical tensions.
Current Market Snapshot
U.S. markets remain closed for Presidents’ Day, leading to lighter trading volumes and subdued volatility. WTI crude nonetheless climbs 1.40% at the weekly open, solidly positioned above the $63 threshold and capturing trader attention.
Technical Analysis Insights
Analysis reveals strong support within this elevated range. Key indicators point to sustained momentum, with prices resisting downward pressure amid ongoing diplomatic developments between the U.S. and Iran.
