The oil market is currently experiencing a blend of technical and fundamental factors that are shaping its trajectory. On the fundamental side, global conflicts, especially those related to resources, have heightened market volatility. The Europe-Russia energy dependency, the escalating tensions in the Middle East, and the potential for a direct Iran-Israel conflict are all influencing oil prices. The US is actively trying to deter a broader conflict in the Middle East, and any sudden geopolitical event could significantly impact the market.

From a technical perspective, WTI Crude Oil has seen a rise, currently priced at $82.60, with a pivot point at $85.13. The short-term trend suggests bearishness below $87.85. Natural Gas, on the other hand, leans bullish above the pivot point of $3.44. Brent oil is trading at $86.62, with a bearish outlook below $87.85.