WTI Crude Slips Below $73.50 as Trump Delays Decision on Iran Strike
By tredu.com • 6/20/2025
Tredu
WTI Crude Edges Lower as Trump Postpones Iran Decision
Key Highlights:
- WTI crude trades at $73.25 after erasing gains below $73.50.
- Trump delays Iran strike decision, to be made within two weeks.
- Israeli jets bomb multiple Iranian military sites, escalating tensions.
- Uncertainty surrounding potential US involvement in Middle East conflict weighs on oil sentiment.
- Geopolitical risk could limit WTI downside if conflict escalates.
Oil Market Reacts to Delayed US Action on Iran
West Texas Intermediate (WTI), the benchmark for US crude, fell to $73.25 early Friday in Asia as market participants digested President Trump’s announcement regarding a possible military strike on Iran.
The decision, expected within two weeks, followed reports of intensified Israeli airstrikes on Iranian military targets — including a dormant nuclear site in Arak.
Geopolitical Tensions Add Volatility to Oil
According to Bloomberg, Israeli forces continue to bombard Iranian infrastructure, warning of potential regime collapse in Tehran. These developments have added significant geopolitical volatility, yet the absence of immediate US involvement capped oil’s gains.
What traders are watching:
- Escalation signs in the Israel-Iran conflict
- Official White House confirmation on military plans
- Oil supply risks from potential Middle East escalation
WTI Technical Outlook
The current price action shows:
- Resistance near $73.50
- Support likely forming around $72.80–$73.00
- A break above $74.00 may trigger bullish momentum if US-Iran tensions escalate
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