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macroJul 21, 2026, 4:18 PM

WTI Crude Rises Above $84 on Supply Fears as API Report Looms

West Texas Intermediate crude oil climbed over 2.5% on Tuesday to near $84.40 amid renewed supply disruption fears linked to US-Iran tensions, with traders eyeing the upcoming API inventory report.

USOIL

West Texas Intermediate (WTI) crude oil traded around $84.40 on Tuesday, gaining 2.58% on the day as supply disruption fears tied to US-Iran tensions continued to support prices.

Despite some hopes for diplomatic de-escalation in the Middle East, market participants remain focused on potential supply constraints. The upward move comes ahead of the American Petroleum Institute's (API) weekly inventory report, which provides further cues on US crude stockpiles.

Source: FXStreet Forex News