ETO Markets Global Pulse: Oil Jumps 5.1%, Pulls Back to 86.45

Market Review

According to ETO Markets monitoring, on April 20 (Monday), WTI crude surged and closed at USD 63.84 per barrel, up 5.1% on the day, marking the largest single-day gain in nearly two weeks. Rising US-Iran tensions lifted risk premium, with growing concerns over shipping security in the Strait of Hormuz and potential supply disruptions.

On April 21 (Tuesday) during early Asian trading, WTI pulled back. Prices briefly touched USD 85.50 and are now trading near USD 86.45 per barrel, down over 1% intraday, as short-term sentiment cooled.

Global Headlines

Trump Signals Talks On April 21

Trump said the US and Iran will meet on April 21. If no deal is reached, the temporary ceasefire is unlikely to be extended. Iranian media denied participation but reports suggest delegates may head to Pakistan.

Iran Rejects Talks Under Pressure

Parliament Speaker Qalibaf said Iran will not negotiate under blockade threats. He accused the US of turning talks into a “surrender table” and warned Iran is prepared for escalation.

Khamenei Reaffirms Hardline Stance

Irans Supreme Leader reiterated demands for compensation, greater control over the Strait of Hormuz, and firm resistance. No concessions were signaled on core issues.

Ships Break Through US Blockade

UK media reported at least 26 vessels linked to Iran have breached US naval blockades, including 11 oil tankers. More than 10 ships have crossed since restrictions tightened.

Warsh Backs FED Policy Independence

At his hearing, Kevin Warsh stressed that monetary policy must remain independent. He warned against expanding FED mandates and reaffirmed price stability as the core objective.

ETO Markets Analyst View (WTI Oil)

WTI remains above the 85.50 level, with short-term structure still relatively firm. If prices hold this key support, upside may test 87.70 and extend toward 88.50, suggesting near-term stability.

If WTI falls below 85.50, momentum may weaken again. Downside could revisit 83.90 or even 81.75, with pullback risks driven by shifting sentiment. The 85.50 zone has formed a short-term support base and will be critical for trend stability.

The market continues to reprice around negotiation expectations and geopolitical risks. Volatility is likely to persist in the near term.

Disclaimer

The information contained herein is for general reference only and does not constitute investment advice, a solicitation, or an offer to buy or sell any financial products.

ETO Markets does not guarantee the accuracy, completeness, or timeliness of the information and shall not be liable for any losses incurred from reliance on such content.