Oil Analysis for Today, Thursday, August 13, 2026

Crude oil prices are trading slightly lower today, undergoing a period of tactical consolidation following earlier gains; Brent crude is hovering between $87.50 and $88.80 per barrel, while West Texas Intermediate (WTI) is trading between $82.00 and $83.20 per barrel.

Key Market Drivers Today:

Geopolitics and Strait of Hormuz Tensions: Ongoing military risks and tensions in the Middle East are providing a floor for prices due to concerns regarding shipping supplies.

US Inventory Data (EIA): Data revealed a significant rise in US crude oil inventories, easing supply-side pressure and curbing further price increases.

Outlook: International reports (such as those from the IEA) indicate shifts in global demand, leading to market volatility.

Bullish Scenario: Brent crude stabilizing above the $89.00 level (on a 4-hour chart) would push prices toward $90.50, followed by $92.00.

Bearish (Correction) Scenario: A break below $87.00 for Brent or $81.50 for WTI could trigger profit-taking, shifting focus to support levels around $85.50.