WTI crude is poised for a shallow grind higher over the next 12 weeks, with prices projected to edge from $60.46 (1 Feb 2026) to $61.76 by 26 Apr 2026 (+2.2%) as a durable Middle East risk premium keeps the market biased upward despite chronic oversupply worries. Geopolitical tensions around the Strait of Hormuz and fragile non-OPEC output anchor several dollars of upside skew, while merely steady demand caps any breakout.

WTI crude is poised for a shallow grind higher over the next 12 weeks, with prices projected to edge from $60.46 (1 Feb 2026) to $61.76 by 26 Apr 2026 (+2.2%) as a durable Middle East risk premium keeps the market biased upward despite chronic oversupply worries. Geopolitical tensions around the Strait of Hormuz and fragile non-OPEC output anchor several dollars of upside skew, while merely steady demand caps any breakout.