ETO Markets Global Pulse: Oil Surges 13%, Rebounds to 96

Market Review

According to ETO Markets monitoring, on April 24 (Friday), WTI crude closed lower at USD 94.40 per barrel, down about 1.5% on the day amid volatile trading. However, supply disruption concerns pushed WTI up nearly 13% for the week, while Brent crude gained around 16%, marking strong weekly advances for both benchmarks.

On April 27 (Monday) during early Asian trading, WTI rebounded nearly 2% and is currently trading near USD 96.15 per barrel.

Global Headlines

Iran Rejects Talks Under Blockade

Irans President Pezeshkian said Tehran will not engage in talks under pressure, threats, or a Strait of Hormuz blockade. He urged the US to remove all obstacles before restarting negotiations.

Iran Proposes Three Stage Plan

Iran outlined a three-stage negotiation framework via intermediaries. The first phase focuses on ending the war, followed by Strait management, and finally nuclear issues, conditional on prior progress.

Trump Halts Envoy Pakistan Talks

Trump canceled plans for an envoy to meet Iranian officials in Pakistan, stating Iran can contact the US directly. He also said Iran “holds no cards” in the current situation.

JPMorgan Shifts Focus To Stagflation

JPMorgan noted that while geopolitical risks remain, the macro focus is shifting toward stagflation concerns. The bank favors Asian tech exposure while reducing positions in more vulnerable regions.

US Oil Exports Hit Record High

EIA data showed US crude and petroleum exports reached about 12.9 million barrels per day, a record high. Increased tanker activity suggests strong global demand for US energy.

FED Hold Probability At 100%

CME FedWatch shows a 100% probability that the FED will hold rates unchanged in April. Rate cut expectations remain low, reflecting stable policy outlook.

DOJ Ends FED Investigation Case

The US Department of Justice has ended its investigation into the FED‘s building renovation project, potentially smoothing the path for Kevin Warsh’s nomination approval.

ETO Markets Analyst View (WTI Oil)

WTI is trading above the 94.10 level, maintaining a firm short-term structure. If prices hold this key support, upside may test 97.80 and extend toward 100.00, reflecting continued strength.

If WTI falls below 94.10, the structure may weaken, with downside risks toward 92.40 or even 91.00.

RSI remains bullish, suggesting further upside potential. The market continues to price in supply disruptions, Strait risks, and policy shifts. Short-term volatility is likely to persist.

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