WTI Crude Oil prices lurch higher again as Trump barrels into Israel-Iran conflict

• US Crude Oil bids surged on Tuesday, pairing recent declines as geopolitical tensions rise.
• Energy markets are roiling as the Israel-Iran conflict stretches on.
• President Trump is racing toward getting involved directly in the conflict, unplugging market hopes for a quick resolution.

West Texas Intermediate (WTI) US Crude Oil prices rose back into near-term highs on Tuesday, pushed higher by continued escalations in the Israel-Iran conflict. US President Donald Trump is using his favorite policy announcement tool, social media posts, to declare his desire for an "UNCONDITIONAL SURRENDER" from Iranian supreme leader Ali Khamenei, stamping out investor hopes for a quick and peaceful resolution to the tit-for-tat missile strikes between Israel and Iran that have stretched into their fifth straight day.

Market rumors are swirling that Iran is looking to step up its pace of rocket strikes against Israel on Tuesday or Wednesday, sparking fresh investor fears that the Middle East region may not be poised for as quick a peaceful resolution as many traders had hoped heading into the week. US President Donald Trump took to social media to convey direct threats against Iran's Ayatollah Khamenei, declaring that the US knows exactly where he is, but has no intention of directly striking him down (yet). The escalatory rhetoric from the leader of the US bodes poorly for market hopes of a quick resolution.

WTI Crude Oil price forecast

Geopolitical factors have dragged Crude Oil prices firmly higher, pushing WTI bids above the 200-day Exponential Moving Average (EMA) near $68.00 per barrel for the first time since early this year. Bids are roiling on headlines between $72.00 and $74.00, with near-term momentum expected to remain choppy.

WTI daily chart