Oil rose in early Asian trade on Thursday as traders eyed a possible technical correction after Wednesday’s lower close. Front‑month WTI crude futures jumped 1.9% to $90.38 a barrel, while Brent climbed 2.0% to $96.15. The move follows a week of elevated prices driven by supply‑risk concerns, lifting risk‑on sentiment in Asian equities.

Analyst Antonio Di Giacomo of XS.com warned that geopolitical risk remains unfinished business despite reports of diplomatic progress between Washington and Tehran. He said markets still price in uncertainty, keeping volatility high across commodities and currencies. He added that any easing of sanctions on Iran could further buoy prices. The lingering risk profile supports the recent price rally and deters a quick retreat.

Investors watching the energy sector should note that the price bounce reinforces bullish sentiment for oil‑producer equities and may pressure the dollar as commodity‑linked flows rise. However, any substantive diplomatic breakthrough could reverse the trend quickly. Short‑term traders are likely to target the next support level near $88. For now, the market treats the correction as a technical bounce rather than a fundamental shift.