On a fundamental perspective there are 2 factors in our favor. First one is the IRAN tensions with the US and now potentially U.K. US putting sanctions on iranian OIL is for the WTI and the tensions is just further strengthening this aspect. Secondly, the storm in the gulf is limiting the drilling activities which is also for the OIL . Lastly the the deal that is binding OPEC & NON-OPEC countries seem to be going okay so far as they all want the price of OIL to rise.
One thing that is for the WTI at the moment seems the ongoing tradewar which if no deal could be made, the demand for OIL would decrease!
So it remains to be seen in the coming weeks how the situation develops. Shall there be a trade entry i will post in a new post.