WTI flat lines above $72.00, near two-week high on US-Iran tensions
The post WTI flat lines above $72.00, near two-week high on US-Iran tensions appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on the previous day’s strong move up and enters a bullish consolidation phase near a two-week high, touched during the Asian session this Wednesday. The black liquid currently trades just above the $72.00 mark, with bulls awaiting a sustained strength beyond a technically significant 200-day Simple Moving Average (SMA) amid renewed US-Iran hostilities. In fact, the US military launched a new wave of strikes against Iran on Tuesday following reports of attacks on three oil tankers in the Strait of Hormuz, jeopardizing the already fragile ceasefire. Moreover, the Iranian Islamic Revolutionary Guards Corps (IRGC) said that it targeted 85 US military sites in Bahrain and Kuwait following the US ceasefire breach and added that it downed a US MQ9 drone in the country’s south. This raises th