Oil prices surge due to global risks, and XTI is approaching a key resistance level.

WTI crude futures jumped, rising about 7.6% to reach nearly $98 during Monday's Asian trading session. This spike occurred after U.S. President Donald Trump suggested the possibility of a naval blockade in the Strait of Hormuz. The strait is a crucial shipping route for most of the world's oil. Of course, this has increased concerns about potential oil supply disruptions.
The situation worsened after talks between Iran and U.S. Vice President JD Vance failed; they broke down because Iran refused to reduce its nuclear program. This disagreement only adds to the increasing global political uncertainty, which in turn pushed oil prices higher.
To make matters worse, Trump told the U.S. Navy to monitor and possibly stop any ships in international waters that have paid Iran to pass through. He emphasized that these ships are not guaranteed safe passage, further heightening fears of increased danger along this vital shipping route.
U.S. Central Command confirmed that this action, targeting maritime traffic related to Iranian ports, will begin Monday at 14:00 GMT, marking a significant step in enforcing these rules.
Meanwhile, Saudi Arabia has fully reactivated the East-West oil pipeline, meaning they can now send up to 7 million barrels of oil per day toward the Red Sea. This provides an alternative route for oil exports, helping to slightly ease supply concerns.
Looking at the technical chart, XTI/USDT, especially on the 4-hour timeframe, is trying to recover. This follows a sharp decline from the $115–$118 range, a move that broke the previous uptrend and pushed the market into a consolidation pattern.
Currently, prices are trading between $92 and $100. The area from $100 to $103 appears to be the main resistance point, while $92 to $94 still acts as solid support.
If the price can hold above $100–$103, it is likely to rise toward $106–$110. But if it is rejected at that resistance level, prices could fall back to support around $94–$92 . A drop below $92 could then open the door to lower levels, possibly down to $85.
Overall, although the long-term trend still looks shaky, short-term market movements seem to be improving. What happens around the $100–$103 resistance level will likely determine the next direction of the price.
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