OIL : Strait of Hormuz Tensions Could Push Oil Higher
It is possible that the price of oil will increase due to the tankers attacked in the Persian Gulf and the Strait of Hormuz.
Iran is defending the area fanatically despite calls from the US and Europe to allow tankers to move freely.
The International Energy Agency (IEA) recommended a large-scale release of oil from strategic reserves that would exceed 100 million barrels during the first month, to help curb high crude oil prices amid the US-Israeli war with Iran.
However, the geopolitical situation is escalating further and it seems that the price of oil could be volatile and influenced more by Iran's actions rather than Trump and the G7's efforts to stop the price from rising further.
Key Targets:
97,80
103
110
115
You may find more details in the chart.
Thank you and good luck! 🍀
It is possible that the price of oil will increase due to the tankers attacked in the Persian Gulf and the Strait of Hormuz.
Iran is defending the area fanatically despite calls from the US and Europe to allow tankers to move freely.
The International Energy Agency (IEA) recommended a large-scale release of oil from strategic reserves that would exceed 100 million barrels during the first month, to help curb high crude oil prices amid the US-Israeli war with Iran.
However, the geopolitical situation is escalating further and it seems that the price of oil could be volatile and influenced more by Iran's actions rather than Trump and the G7's efforts to stop the price from rising further.
Key Targets:
97,80
103
110
115
You may find more details in the chart.
Thank you and good luck! 🍀
Trade attivo
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.