WTI Oil price bounces back to near $88 as Trump warns further military actions against Iran
작성자 Sagar Dua
수정됨: 10 Jun 2026
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The West Texas Intermediate (WTI), futures on NYMEX, turns flat slightly above $88.00 in the European trade on Wednesday after clawing back its early losses.
- The Oil price bounces back strongly to near $88 as US President Trump warns of escalating military strikes against Iran.
- Trump has stated that Iran’s military is dead and Tehran has no other alternative than negotiations.
- US CENTCOM attacked Iranian targets in retaliation for the downing of the US Apache helicopter.
The West Texas Intermediate (WTI), futures on NYMEX, turns flat slightly above $88.00 in the European trade on Wednesday after clawing back its early losses. The Oil price has rebounded strongly from the day’s low of around $86.14, as United States (US) President Donald Trump has warned of escalating military operations against Iran, through a post on Truth Social, for taking significant time in reaching a peace deal.
Trump stated through his post that Iran’s military capabilities, including Navy and Air Force, have been demolished and they have no other option than to negotiate with Washington.
“Iran’s Military is a complete and total mess. Much of it, like their Navy and Air Force, doesn’t even exist anymore - They have been completely defeated. Iran is all talk and no action. The Bully of the Middle East is DEAD!!! They’ve taken too long to negotiate a deal that would have been great for them, now they will have to pay the price!!!”, US President Trump wrote.
With fears of re-escalating the Middle East crisis, concerns regarding the prolonged closure of the Strait of Hormuz, a vital passage to almost one-fifth of the global energy supply, have also increased, resulting in a strong recovery in the oil price.
Trump’s message seems to be more a response to Iran's Foreign Ministry spokesperson Esmaeil Baghaei statement – it came earlier in the day – which stated that Tehran needs to re-assess the terms of negotiations with Washington following overnight clashes.
On late Tuesday, the US Central Command (CENTCOM) confirmed launching a series of attacks on Iran’s air defense, ground control stations, and surveillance radar sites near the Hormuz. The military attack from the US CENTCOM was already anticipated as President Donald Trump on Truth Social vowed retaliation against Iran for shooting down the Apache helicopter over the Hormuz.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
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