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Oil prices surge again, fueled by rapidly escalating geopolitical tensions

Technical Analysis
By Ahmed Ashraf
Oil prices surge again, fueled by rapidly escalating geopolitical tensions
0 1

USOIL

Oil trades around $103 resistance with this level likely to limit upside momentum during today’s trading.

Support

 86 75.50
Resistance 103

115

Crude oil prices recorded strong performance during today’s trading as prices surged driven by escalating geopolitical tensions in the Middle East, bringing supply stability concerns back into focus. This move reflects clear buying momentum with markets repricing risk, especially amid the absence of any signs of near term de escalation and continued sensitivity to developments around the Strait of Hormuz. Despite this upward momentum, prices remain vulnerable to short term volatility as markets await further political developments that could either support the current trend or trigger quick profit taking.

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Ahmed Ashraf

Technical Analyst & Economic Researcher at LDN Global Markets

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