Nearby Oil – US Crude futures ended the week of March 27 under pressure, with prices around $94.30 after a 4% weekly decline, as traders reacted to shifting headlines on U.S.-Iran talks. Volatile intraday moves reflected the market’s struggle to balance hopes for diplomatic progress with persistent supply disruption risk centered on the Strait of Hormuz, a critical conduit for global flows.
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Over the past month, Oil – Brent Crude has rallied about 42.46%, while U.S. crude has climbed roughly 39.61%, underscoring how geopolitical risk has kept an elevated risk premium in both benchmarks. Despite the latest weekly pullback, 1-day technical indicators for WTI and Brent remain aligned with an Strong Buy and Strong Buy bias, respectively, signaling that short-term momentum is still skewed to the upside. Investors can explore more updates, prices, and analysis across global markets at Commodities.