Oil broke through $84, is now bid over $85. Next price resistance is $90. The oil price is the highest since September 2023. Mostly attributed by geopolitical re: Ukraine/russia, Iran/Israel.

(Chart 1)

(Chart 2)

Oil has broken through its $84 resistance/support and is now bid over $85.  As the U.S. stockpiles for Summer, this will cause OPEC to cut production at their next meeting, thus the price oil rallied.  Attributing to this rally is Ukraine continually striking Russian oil refineries with drones, this time Russia's third largest the Taneco refinery southeast of Moscow, production at 340,000 barrels per day.   Oil markets are awaiting Iran's response to Israel's bombing of their consulate in Damascus, Syria.

Next Resistance is $90, when in September 2023, Hedge Funds starting buying long positions as opposed to short positions.  Please refer to Chart 2.