Oil Holds Positive Tone
Oil prices rose for a third consecutive day as the market grew more skeptical about the U.S. and Iran reaching a peace deal soon. Brent strengthened near US$97 per barrel, while WTI held around US$95 after surging more than 7% in the first two sessions of the week.
The rise was driven by the unclear direction of negotiations and military escalation. The U.S. military reportedly intercepted Iranian ballistic missiles and drones heading towards neighboring countries, then attacked a command center in Iran in response. This situation increases the supply risk premium, especially since energy flows from the Persian Gulf have not yet returned to normal. (asd)
Oil Price at the Time of Release of This Analysis is at $97.81
- Buy if the price moves to $97.90
- Sell if the price moves to $97.01
Resistance 2: $99.17
Resistance 1: $98.28
Support 1: $96.50
Support 2: $95.61
Note: This article is analytical and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id