WTI Crude Oil Surges Past $112 as Market Eyes Middle East Developments
WTI crude oil climbed to $112.84 per barrel following a breakout above its 20-day moving average, fueled by geopolitical tensions and ceasefire speculation.
West Texas Intermediate (WTI) crude oil futures demonstrated significant volatility, successfully breaching the $102.25 per barrel resistance level. The commodity concluded trading on Thursday, April 2, 2026, at $112.84, marking a decisive move above its 20-day moving average ahead of the Easter holiday break.
The recent upward momentum in oil prices arrives amid heightened market anticipation regarding geopolitical shifts. Traders are closely monitoring upcoming remarks from Donald Trump as well as emerging reports concerning potential ceasefire negotiations between the United States and Iran. These developments have introduced substantial uncertainty into energy markets, contributing to the recent price swings observed in WTI CFD tracking.