WTI Oil Price Forecast: Bulls lose momentum near $100
West Texas Intermediate (WTI) Oil extends its decline on Thursday, sliding nearly 2% as Saudi Arabias rerouting efforts and hopes for a faster pipeline recovery weigh on prices, even as broader Middle East supply risks stay elevated. At the time of writing, WTI trades around $95.50 after reaching $102.11 earlier this week, its highest level since May 21. Oil eases as Saudi Arabia reroutes exports and repairs key pipeline Analysts at Commerzbank report that oil prices fell as Saudi Arabia responded to recent supply disruptions by “sought alternative export routes and moved closer to partially restoring the East-West pipeline.” According to the bank, Saudi Arabia has “begun offering additional crude via Oman, using ship-to-ship transfers at Sohar to circumvent disruption to its Red Sea export route.” Commerzbank adds that the kingdom is “reportedly seeking to restore around half of the capacity of its East-West pipeline within days following last weeks drone attacks,” helping to reassure markets over near-term export continuity. Technical analysis: 4- hour chart WTI US Oil keeps a bearish near-term tone as price has slipped beneath the 50-period Simple Moving Average (SMA) at $96 while still holding above the 100-period SMA at $91 and the 200-period SMA at $86. The Relative Strength









