{"id":44020,"date":"2026-04-06T03:17:11","date_gmt":"2026-04-06T03:17:11","guid":{"rendered":"https:\/\/www.vtmarketsglobal.com\/en\/uncategorized\/44020\/"},"modified":"2026-04-06T03:17:11","modified_gmt":"2026-04-06T03:17:11","slug":"despite-supply-concerns-wti-crude-fails-to-hold-asian-gains-near-106-45-falling-below-104-00-again","status":"publish","type":"post","link":"https:\/\/www.vtmarketsglobal.com\/en\/live-updates\/44020\/","title":{"rendered":"Despite supply concerns, WTI crude fails to hold Asian gains near 106.45, falling below 104.00 again"},"content":{"rendered":"WTI briefly rose to about $106.45, a near four-week high, during the Asian session before easing back. It later slipped below $104.00, with losses limited by supply worries. \n\nA stronger US dollar, supported by higher expectations of a US Federal Reserve rate rise, put pressure on dollar-priced oil. Geopolitical risk also increased after President Donald Trump said Iran\u2019s power plants and bridges could be targeted if the Strait of Hormuz is not reopened on Tuesday, while Iran set new conditions for reopening it. \n\n

Near Term Technical Bias<\/h3> \n\nChart signals kept a bullish near-term bias after last week\u2019s bounce from the rising 100-period EMA on the 4-hour chart and a move above the 100.00 level. The MACD turned higher again, moving back into positive territory, with an improving histogram. \n\nThe RSI was near 61, above its midline but below overbought levels. Pullbacks may find buyers near $102.00, then around $99.50, while the 100-period EMA sits below $94.00; resistance is near $105.70, with $108.00 next.\n\nThe current price action in WTI crude, hovering around $95, is reminiscent of the volatility we saw back in 2025. During that period, prices struggled near $104 due to tensions in the Strait of Hormuz and a strong US dollar. We are seeing a similar dynamic now, where underlying supply tightness is fighting against macroeconomic headwinds.\n\nCurrent concerns are focused on OPEC+ discord regarding production cuts, with recent satellite data suggesting several key members are producing above their agreed-upon quotas. This supply uncertainty is running up against strong demand signals, as the most recent Energy Information Administration (EIA) report showed a larger-than-expected draw in US crude inventories of 2.5 million barrels last week. The Federal Reserve’s unclear stance on future rate adjustments is also strengthening the dollar, putting a cap on any significant price rallies for now.\n\n

Support And Resistance Levels<\/h3> \n\nFrom a technical perspective, the bounce last week from the 100-period moving average on the 4-hour chart keeps the near-term bias bullish. We see momentum indicators like the MACD beginning to cross back into positive territory. This suggests that after a brief period of selling, buyers are re-establishing control.\n\nThe Relative Strength Index is holding near 59, indicating solid upward pressure without the market being overbought. Therefore, any pullback toward the $93.00 handle should be viewed as a potential buying opportunity for derivative traders playing the short-term trend. Stronger support sits near the psychological $90.00 mark, which should hold barring any major shift in fundamentals.\n\nTo the upside, immediate resistance is found at the recent peak around $96.50. A decisive break above this level would signal a continuation of the uptrend and could open the path toward testing the $100 mark in the coming weeks.\n\nCreate your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b>\n

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Start trading now – Click here<\/a> to create your real VT Markets account <\/strong> <\/p>\r\n","protected":false},"excerpt":{"rendered":"

WTI hit four-week high, then slipped as dollar strengthened; Hormuz tensions and bullish indicators supported.<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46],"tags":[],"class_list":["post-44020","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"josephine","author_link":"https:\/\/www.vtmarketsglobal.com\/en\/author\/josephine\/"},"_links":{"self":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/44020","targetHints":{"allow":["GET","POST","PUT","PATCH","DELETE"]}}],"collection":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/comments?post=44020"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/44020\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/media?parent=44020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/categories?post=44020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/tags?post=44020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}