WTI dips under $79 but bullish view holds on Iran tensions

West Texas Intermediate (WTI) crude oil slipped below the $79.00 mark during Thursday's Asian session, though the decline lacked conviction. Prices remain close to the over-one-month high reached earlier this week.

The pullback is viewed as a pause in an uptrend rather than a reversal, with market participants keeping a close eye on rising US-Iran geopolitical tensions. Any escalation could disrupt supply flows from the region, underpinning the bullish outlook.

Traders are now awaiting fresh catalysts, including US inventory data and broader risk sentiment, to confirm the next directional move.