Crude oil is settling at $94.81, down $0.27 or -0.28% on the day, after another volatile trading session driven by geopolitical headlines and shifting risk sentiment. Technically, the market is closing just below a key technical level — the 50% midpoint of the rally from the April 17 low — which comes in at $94.95. Holding below that midpoint keeps the near-term bias tilted slightly in favor of the sellers.
On the topside, the price extended to a session high of $97.46, narrowly surpassing yesterday’s high at $97.34 before stalling. That area has repeatedly acted as an important ceiling — and at times a floor — going back to April 24, reinforcing its significance as a key battleground between buyers and sellers. As long as the price remains below that resistance zone, sellers remain more in control from a short-term technical perspective.
Meanwhile, the session low reached $89.85, holding above yesterday’s low at $88.66. The ability to stay above that prior low helped stabilize the downside and encouraged some late-session buying, but buyers still need to reclaim the $94.95 midpoint and then break back above the $97.34–$97.46 resistance area to shift momentum back to the upside.