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Hormuz ignites oil prices

Technical Analysis
By Mostafa Mahmoud
Hormuz ignites oil prices
0 1

USOIL

النفط الخام 17-3-2026

Oil trades below resistance at $102 likely to move sideways between support at $80 and this resistance.

Support

 80.00 65.50
Resistance 102

114.30

Oil prices recorded strong gains during today trading supported by escalating geopolitical tensions in the Middle East particularly ongoing concerns over supply stability through the Strait of Hormuz which boosted investor buying appetite This move reflects a repricing of risk in the markets as the potential for supply disruptions has become a key driver of prices.

At the same time oil movements remain closely tied to geopolitical developments where any signs of de-escalation could lead to a partial pullback while continued escalation is likely to sustain the current bullish momentum.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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