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WTI is trading above the strike, with the December contract last around $96.24 after touching $96.74, so the market sits just over the line heading into settlement.
The main supports are the sharp U.S. crude inventory draw, lower U.S. crude production, and fresh supply risks around the Strait of Hormuz, while added OPEC-linked and IEA supply releases temper the upside. Q favors a settlement above 95.99 because price action has already held near that level and the latest supply-side shocks keep crude bid into the window.
No factor breakdown on this forecast.
Research and information only. Not financial advice or a recommendation to trade. Markets involve risk, including loss of capital. Review venue rules and eligibility before trading.