Oil hesitating near the top, WTI stuck to $68.00

• Crude still pushed against the ceiling on continued Middle East concerns, frailty in the Iran deal.
• Buildup in US supply routes could hammer prices if the Iran deal stabilizes and Trump concedes.

WTI Crude hasn't been able to develop much momentum in either direction, trapped in the middle of the week's range and currently trading near 67.95.

Oil lifted back into 2018's highs when the Syrian civil war spilled over as the US and Russia came to loggerheads over Syria's use of chemical weapons on its own people, but the conflict faded without incident.

US oil production continues to choke up supply lines and producer stocks, but oil prices are remaining elevated with uncertainty surrounding the current Iranian deal. US President Donald Trump has continuously threatened to pull out of the Iran deal and resume imposing stiff economic sanctions on the country, a move that was dropped when the US and several allies came together to provide Iran with a deal in exchange for denuclearization.

WTI levels to watch

Crude is currently trapped by a soft double-top from the 69.00 handle, with this week's last swing low at 68.40 providing immediate resistance. Bears will find support from the last major low at 65.90, with further support from 65.00, the 50.0 Fibo level of the last leg up that began three weeks ago from 61.90.