WTI $110 prediction pulls back as oil hits resistance following surge to $105
· flowframe Pulse
The probability of WTI reaching $110 in April eased by 4.5% as the commodity encountered technical resistance after an intraday surge to $105. While a newly announced U.S. naval blockade of the Strait of Hormuz initially spiked prices, traders moderated their outlook for further gains following reports that Saudi Arabia has restored full capacity to its East-West pipeline.
74¢ → 70¢ • Vol: $0.6M