WTI crude remains at $67.00 as Iran‑related tensions outweigh tariff concerns.

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about 6 hours ago

WTI Holds at $67 Amid Mixed Forces

West Texas Intermediate futures have stalled around $67 per barrel, a technical and psychological pivot point. The market has seen repeated tests of this level without clear bullish or bearish dominance. Traders cite a clash between rising Middle‑East tensions and new global import tariffs as the cause of the indecision.

Geopolitical Risks Lift Prices

Escalating friction involving Iran and the Strait of Hormuz has revived supply‑security concerns, adding a risk premium to crude benchmarks. Analysts note that similar past incidents have pushed prices up $3‑$8 per barrel. The threat of a low‑probability, high‑impact disruption keeps buyers supportive of the $67 floor.

Tariff Measures Damp Demand

Broad‑based tariffs on manufactured goods in North America, the EU and Asia‑Pacific are expected to shave 0.2% from global GDP growth, curbing oil consumption. Forecasts estimate demand cuts of 150,000‑200,000 barrels per day across the three regions. This demand headwind creates a ceiling for price advances.

Outlook and Key Drivers

Technical charts show a narrowing channel that often precedes a breakout, but direction depends on which narrative prevails. A diplomatic de‑escalation would shift focus to weakening demand, while a supply shock could thrust prices toward $70‑$72. Traders monitor OPEC+ output, U.S. shale activity, freight rates and strategic reserves for further clues.