WTIUSD

The risk of conflict in the Middle East continues to be the largest upward risk factor for oil prices. Concerns over supply disruptions have the potential to drive prices higher. For WTI, which has been holding above the 73.469 pivot level, this week's geopolitical news flow and the U.S. crude oil inventory data on Wednesday will determine the direction. An escalation in tensions could trigger a move towards the resistance levels of 78.010 and 82.607.