Oil Plunges 3%! Trump Eases Iran Tensions, Markets React Immediately
World oil prices fell sharply, nearly 3% in Asian trading on Thursday (January 15th), after US President Donald Trump signaled a more restrained stance on the situation in Iran. This decline ended five consecutive days of price increases that had previously been fueled by concerns about oil supply disruptions due to geopolitical tensions in the Middle East.
Brent crude futures fell about 2.8% to around $64.67 per barrel, while West Texas Intermediate (WTI) crude fell about 3% to around $60.22 per barrel. The market viewed Trump's comments as easing concerns about imminent military action against Iran, thereby reducing the "risk premium" that had driven prices up rapidly in recent days. (az)
The oil price at the time of this analysis is $63.90
- Buy if the price moves within the $64.00 range
- Sell if the price moves within the $63.80 range
Resistance 2: $64.20
Resistance 1: $64.10
Support 1: $63.70
Support 2: $63.60
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id