Oil News: Crude Oil Locks in Geopolitical Floor as Supply Risk Surges
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Key Points:
- Crude oil price action shows a shift from demand focus to persistent supply risk driving markets.
- Geopolitical tension in the Strait keeps a strong floor under crude oil prices.
- Dip buying remains consistent as traders lean on supply risk and technical support.
Oil’s Wild Week: Geopolitics Took the Wheel and Never Let Go
The oil market got hit from every direction this week and by Wednesday traders stopped even pretending fundamentals were driving it. One headline would calm things down and the next one would light the market back up. Keep reading for what the charts are saying and why every dip found a buyer no matter what the data showed.