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Oil prices rise due to Hormuz tensions

Technical Analysis
By Ahmed Ashraf
Oil prices rise due to Hormuz tensions
0 9

USOIL

النفط الخام 20-4-2026

Oil trades below resistance zone $90 with prices likely to decline and retest support at $78 and this scenario becomes invalid if resistance is broken to the upside in today trading.

Support

 78 68
Resistance 90

98

Crude oil prices recorded strong performance during today trading, posting a notable rise driven by escalating geopolitical tensions between the United States and Iran, which brought concerns over global supply stability back into focus. This move came after a period of sharp volatility, reflecting a rapid shift in market sentiment toward pricing in risks of disrupted oil flows, especially with ongoing disruptions in the Strait of Hormuz, one of the most critical global energy routes. Reduced risk appetite and a rotation of liquidity toward energy related assets also supported prices, while markets continue to watch political developments that could shape the next direction, with expectations of continued volatility in the near term.

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Ahmed Ashraf

Technical Analyst & Economic Researcher at LDN Global Markets

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