WTI Crude Oil This WTI Crude Oil chart highlights how geopolitical developments, particularly statements from Donald Trump regarding Iran, are driving sharp price volatility. The market initially reacted bullishly on escalating tensions, pushing prices toward resistance, but quickly reversed after signs of a ceasefire, triggering a steep sell-off. The chart clearly reflects how uncertainty around war continuation or resolution can significantly impact oil prices, with upside potential if conflict persists and downside risk if tensions ease.