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Oil prices face pressure amid Middle East risks and technical weakness, trapped between $80-$120 range.

Market News
09 Jun 2026
FXEmpire
View Source
Bearish
pluang ai news

Oil prices are under pressure despite ongoing Middle East conflict risks, with volatility driven by threats around the Strait of Hormuz, a key oil supply route. WTI crude is consolidating between $80 and $120, with short-term technical weakness pushing prices toward $87 support, while Brent crude hovers near $90 support. Both benchmarks need to break out of these ranges to signal a clear next move. The geopolitical risk keeps a risk premium alive, but short-term profit-taking and technical corrections are causing price fluctuations within this broad range.

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