WTI Crude Retreats Amid Hormuz Tension Easing; Natural Gas Trapped Near $2.90

The WTI benchmark has slipped into the $87‑$89 corridor, falling roughly 3‑5.5% after a sharp rebound that had pushed it back to $92.40. The move underscores how the energy market remains sensitive to geopolitical jitters around the Strait of Hormuz, which channels about 20% of global seaborne oil.

When regional tensions first flared, crude received a 5% bump. Recent diplomatic signals suggest a potential de‑escalation, easing the initial fear and pulling prices lower.

Analysts now see a structural floor near $80, arguing that until supply normalises, oil will stay in a tight band. Natural gas and refined products mirror this volatility, reacting swiftly to any shift in risk sentiment.

Natural gas futures trade around $2.888, flirting with the crucial support level of $2.866. The price has just slipped below a rising trendline that ran from late‑February lows at $2.78, signalling a weakening bullish bias.

The 50‑period moving average sits near $3.01, acting as dynamic resistance, while the 200‑period MA exerts pressure at roughly $2.95. Candles are largely small‑bodied with occasional lower wicks around $2.86, indicating buyers are fighting to hold the level.

Key resistance points lie at $3.014 and $3.087. A break below $2.866 could expose $2.823 and $2.778 as further support.

A potential trade idea: if the price slides under $2.866, consider a short to $2.823 with a stop above $2.95.

On the WTI front, the 2‑hour chart shows the price at about $88.77, consolidating between a rising trendline at $86.75 and a descending trendline that originates from the 116.00 peak. The tight triangle suggests a breakout is likely soon. The 50‑day moving average sits just above $92.65, a near‑term resistance, while the 200‑day line rests at $86.75, aligning with the current support zone.