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Escalating tensions are strongly supporting rising oil prices

Technical Analysis
By Mostafa Mahmoud
Escalating tensions are strongly supporting rising oil prices
0 5

USOIL

النفط 1-6-2026

Oil is trading above $85.80 support level, and prices are likely to move sideways between $95.40 resistance level and the mentioned support level.

Support

 85.80 79
Resistance 95.40

107

Oil prices rose during today’s trading, supported by the return of geopolitical risk premium to the market after renewed escalation between the United States and Iran, alongside ongoing concerns over supply security and shipping activity in the Gulf region.

Brent crude rose near $94 per barrel, while West Texas Intermediate advanced toward the $90 area, as traders moved to reprice the possibility of supply disruptions through the Strait of Hormuz. Although prices had come under strong pressure recently, the latest escalation brought buyers back into the market, especially given oil’s sensitivity to any direct threat to shipping routes or energy infrastructure in the Middle East.

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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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