ETO Markets Global Pulse: Oil Rebounds 3.7%, Holds Near 89

Market Review

According to ETO Markets monitoring, on April 16 (Thursday), WTI crude moved higher and closed at USD 94.69 per barrel, up about 3.7% on the day. The rebound was driven by rising doubts over US-Iran negotiations and renewed concerns over energy supply disruptions.

On April 17 (Friday) during Asian trading, WTI hovered around USD 89 per barrel with mild intraday gains. Market sentiment remains sensitive to renewed tensions in the Middle East.

Global Headlines

Ceasefire Violations Raise Tensions Again

A 10-day ceasefire between Israel and Lebanon showed signs of breakdown shortly after implementation. Lebanon reported multiple violations, increasing fears of renewed escalation.

US Launches Economic Fury Campaign

The US initiated “Economic Fury,” intensifying economic pressure on Iran. The move signals a stronger use of sanctions and financial tools, adding uncertainty to energy supply expectations.

Trump Signals Talks This Weekend

Trump said US-Iran talks may resume this weekend and hinted at a possible agreement signing in Pakistan. He noted progress but acknowledged uncertainty remains.

Trump Claims Iran Nuclear Deal

Trump stated Iran has agreed not to pursue nuclear weapons for over 20 years. Iran has not confirmed this, leaving markets cautious on the credibility of the claim.

IEA Warns Fuel Stocks Running Low

The IEA warned that Europe has only about six weeks of aviation fuel left. Continued disruption in the Strait of Hormuz could lead to flight cancellations and broader economic pressure.

Warsh Hearing Faces Political Delay

US Senate Democrats are pushing to delay the hearing for FED Chair nominee Kevin Warsh. The move adds uncertainty to the policy outlook and leadership transition.

ETO Markets Analyst View (WTI Oil)

WTI is trading around the 89.00 level, showing early signs of stabilization. If prices hold above this key support, upside may test 90.80 and extend toward 91.80, reflecting short-term recovery momentum.

If WTI breaks below 89.00, the structure may weaken again. Downside could revisit 88.10 or even 87.30, with volatility driven by shifting geopolitical expectations.

RSI has just moved into neutral territory and is turning higher, suggesting improving momentum. The market remains caught between negotiation hopes and geopolitical risks, with price action likely to stay range-bound in the near term.

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