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Oil is back above $100 as markets await the repercussions of the escalation in the Middle East

Technical Analysis
By Mostafa Mahmoud
Oil is back above $100 as markets await the repercussions of the escalation in the Middle East
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USOIL

النفط الخام 9-3-2026

 

Oil trades in a medium-term upward trend, opening the door for further gains and new highs, while a break below support at 99.25$ could lead to a retest of 86.20$ in today’s trading.​

Support 99.25 86.20
Resistance 109 115

Crude oil prices recorded a notable rise during today’s trading, supported by escalating geopolitical tensions in the Middle East and growing concerns over potential disruptions to global supply, particularly with threats affecting navigation through the Strait of Hormuz, one of the most critical routes for global oil transport. This environment prompted investors to reprice energy risks across the markets.

This led to a strong upward move in prices alongside increased precautionary demand from market participants, while markets continue to monitor potential actions by major industrial nations, led by the G7, to stabilize markets through the use of strategic reserves should supply pressures persist.

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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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