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macroJul 17, 2026, 4:17 PM

WTI Oil Rallies Above $81 Amid Middle East Tensions

West Texas Intermediate (WTI) crude oil surpassed $81 per barrel, gaining 2.76% on the day, as escalating geopolitical tensions in the Middle East threaten global oil supplies. The commodity is on track for a weekly gain of over 13%.

USOIL

West Texas Intermediate (WTI) crude oil traded around $81.10 on Friday, marking a 2.76% daily increase. The rally pushed prices above the $81 threshold for the first time in the current session.

Geopolitical risks in the Middle East are the primary driver, with escalating tensions raising concerns about potential disruptions to global oil supplies. The region's instability has prompted traders to price in a higher risk premium.

As of Friday, WTI is heading for a weekly gain exceeding 13%, reflecting the rapid shift in market sentiment amid the heightened uncertainty.

Source: FXStreet Forex News