Crude oil has surged +4% after Israel signalled the possibility of a coordinated US–Israel strike on Iran.
The escalation follows stalled nuclear negotiations in Geneva, where US–Iran talks failed to resolve key issues. The United States signalled it may consider military action if diplomacy fails. Meanwhile, the US military continues to expand its air and naval presence in the Middle East.
Volatility in oil could be expected to continue as The White House declined to commit to a firm timeline to deal with Iran.
On the daily chart, WTI has possibly shifted from a prolonged corrective structure into a renewed bullish phase. The current daily candles show strong bullish momentum, with impulsive green sessions driving price toward the upper end of the recent range.
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