• WTI holds firm as stalled US-Iran talks keep supply risks elevated through the Strait of Hormuz.
• Iran offers plans to reopen the Strait of Hormuz, but uncertainty remains over US response.
• Technicals show a bullish bias, with momentum indicators easing but still supportive.

West Texas Intermediate (WTI) Crude Oil holds steady on Monday, as stalled US-Iran peace talks reduce hopes that the Strait of Hormuz will reopen anytime soon. At the time of writing, WTI is trading around $95.00 per barrel, with shifting geopolitical headlines keeping volatility elevated.

A report by Axios, citing a US official and two sources familiar with the matter, said Iran has presented a new proposal to the United States to reopen the Strait of Hormuz and end the war, while leaving nuclear negotiations for a later stage. In response, White House Press Secretary Karoline Leavitt said US President Donald Trump had discussed Iran’s proposal with his team but added, “I would not say that the United States is considering Iran’s proposal.”

The Strait of Hormuz remains under a dual US-Iran blockade, keeping a geopolitical risk premium embedded in Oil prices as supply remains largely disrupted.

In an exclusive interview with MS NOW, Arsenio Dominguez, head of the United Nations’ maritime agency, said around 2,000 commercial vessels and 20,000 seafarers are currently stranded in the Strait of Hormuz. He warned that disruptions in the waterway are likely to persist long after the conflict ends.

Looking ahead, traders will closely monitor developments in US-Iran negotiations, particularly any signals from Washington on the proposal and progress toward reopening the Strait of Hormuz. A breakthrough could ease supply concerns and weigh on Oil prices. Until then, WTI is likely to remain supported amid ongoing supply concerns.

In the daily chart, WTI US Oil maintains a constructive bullish bias as the price holds well above its key moving averages. The 50-day Simple Moving Average (SMA) at $85.97, together with the 100-day SMA at $72.87 and the 200-day SMA at $67.40, sits comfortably below spot and collectively underpins the broader uptrend.

Momentum has cooled from earlier overbought extremes, with the Relative Strength Index (14) now around 55, suggesting a more balanced but still positive tone, while the Average Directional Index (14) near 24 hints that trend strength has eased from prior elevated levels.

On the downside, immediate support is reinforced by the 50-day SMA at $85.98, which marks the first key demand area should a deeper pullback unfold. Below that, the 100-day SMA at $72.88 and the 200-day SMA at $67.41 define more distant structural support zones that would be expected to attract buyers if tested, as long as price continues to trade decisively above them.

(The technical analysis of this story was written with the help of an AI tool.)