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WTI crude oil breaks out, eyes $108.25 amid Middle East tensions and supply worries.

Market News
31 Mar 2026
FXEmpire
View Source
Bullish
pluang ai news

WTI crude oil surged over 50% this month, marking its best performance since 2020, driven by disruptions in the Strait of Hormuz affecting up to 27% of global oil traffic. Despite rising US crude inventories, geopolitical tensions in the Middle East have caused significant price volatility. WTI recently broke out of a symmetrical triangle pattern, suggesting a bullish trend with a potential target of $108.25. Meanwhile, natural gas faces a critical support level at $2.79, with risks of a deeper correction if it falls below this mark. Brent crude remains steady but watchful near $108, supported by strong technical indicators.

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