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macroAug 4, 2026, 5:33 AM

WTI Crude Oil Pushes Toward $80 on US-Iran Tensions

West Texas Intermediate crude oil extends gains toward $80 per barrel as geopolitical tensions between the US and Iran support prices, though technical signals remain mixed.

XTIUSD

West Texas Intermediate crude oil rose during the Asian session, building on a bounce from below $77.50 the previous day. The move comes amid renewed US-Iran tensions, which are underpinning prices.

The technical setup, however, presents conflicting signals, keeping the outlook uncertain near the $80 mark.

Source: FXStreet Forex News