Eseandre Mordi
⬤ WTI Crude Oil futures for April 2026 (CLJ26) are knocking on the door of a multi-month high, hovering around $66.88. As Barchart flagged, that puts prices at their best closing levels since August - a meaningful milestone after the rough patch crude endured in late 2025, when prices slid toward the mid-$50s. Since then, oil has quietly but steadily clawed its way back, and the market is now watching whether that momentum holds.
⬤ The recovery through January and February has been more than just noise. WTI worked through a key reference level at $65.39, which proved to be a genuine test - crude stumbled there initially before pushing higher. WTI Oil Struggles at $65.39 After Failed Breakout captured that choppy moment well. Once the market cleared it, attention quickly shifted to the next resistance cluster in the $68-$69 zone - a range that now looks like the natural near-term target.
How WTI closes near current levels will shape the narrative around crude's near-term trend well into Q1 2026.
⬤ WTI isn't moving in isolation. Brent Crude is also holding near $72 as oil benchmarks approach multi-month highs, reinforcing the sense that this is a broader commodity rally rather than a one-off spike. Supply-demand dynamics, geopolitical pressures, and shifting macro expectations are all feeding into the same bullish tilt across energy markets.
⬤ Whether WTI can sustain or push past current levels is the question everyone in the energy space is asking right now. A strong close near $66.88 or above would confirm that crude has genuinely shifted from recovery mode into something more durable. For traders and analysts alike, the next few sessions could set the tone for oil prices through the rest of Q1 2026.
Eseandre Mordi
