Odds for a US strike in Iran – Source: PolymarketWhat concerns Markets is that Iran is a top-6 global oil producer and holds the second-largest natural gas reserves. The larger threat, however, is the potential closure of the Strait of Hormuz, through which all energy-commodity shipping to Asia passes, accounting for around 20% of global Oil and gas flows. US Oil Multi-Timeframe AnalysisWTI Daily ChartWTI Oil Daily Chart – January 29, 2026. Source: TradingViewAs was expressed in our previous Oil piece, the 200-Day Moving Average ($62.59) offered a significant breakout signal after getting breached yesterday. WTI 4H Chart and Technical LevelsWTI Oil 4H Chart – January 29, 2026.