ETO Markets Global Pulse: Oil Jumps 8%, Breaks Above 105

Market Review

According to ETO Markets monitoring, on April 11 (Friday), WTI crude moved lower and closed at USD 96.57 per barrel, down about 1.3% on the day. Weekly losses reached 13.4%, marking the largest drop since 2022, as markets sold off ahead of US-Iran ceasefire talks.

On April 13 (Monday) during early Asian trading, WTI opened sharply higher, surging as much as 8% and breaking above USD 105.50. It is currently trading near USD 104.60 per barrel, with the market testing whether it can hold above the 105 level.

Global Headlines

US Iran Talks Collapse Tensions Rise

Talks between the US and Iran in Islamabad ended without agreement. Both sides held firm on key issues. The US reiterated its “red lines,” while Iran cited a lack of trust. Trump announced plans for a naval blockade of the Strait of Hormuz, while Iran asserted full control over the strait.

Trump Weighs Strike And Blockade

Following the failed talks, Trump is considering limited military strikes while advancing blockade plans. Full-scale conflict remains unlikely, but coordinated pressure with allies is possible. The White House signaled that diplomatic channels remain open.

US Expands Iran Port Blockade

US CENTCOM announced a blockade on all vessels entering or leaving Iranian ports starting April 13. The measure covers ports along the Arabian Gulf and Gulf of Oman, raising uncertainty over regional oil flows.

Key Disputes Focus On Strait

Core disagreements include control of the Strait of Hormuz, handling of roughly 900 pounds of enriched uranium, and the release of about USD 27 billion in frozen assets. No compromise was reached, but room for further negotiation remains.

ETO Markets Analyst View (WTI Oil)

WTI surged after a strong gap higher and is now trading above the 100.00 level. Short-term momentum has clearly strengthened. If prices hold above 100.00, the next upside targets are 107.00 and potentially 111.50, reflecting renewed geopolitical risk pricing.

If WTI falls back below 100.00, the bullish structure may weaken. Downside could retest 97.50 or even 95.40, with volatility likely to increase as sentiment shifts.

RSI remains in a bullish structure, suggesting further upside momentum. However, price swings may stay elevated as the market reacts to ongoing geopolitical risks and supply disruptions.

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