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Oil prices fell sharply in line with the easing of geopolitical tensions

Technical Analysis
By Ahmed Ashraf
Oil prices fell sharply in line with the easing of geopolitical tensions
0 4

USOIL

النفط الخام 15-6-2026

Oil is trading around $80 support, and a break below it could target the $75 area, but the aforementioned support area is likely to limit the pace of decline in today’s trading.

Support

 80 75
Resistance 85.50

91.50

Oil prices fell by more than 4% after the United States and Iran announced a temporary peace agreement aimed at ending the escalation in the Middle East and reopening the Strait of Hormuz to maritime traffic. The decline came as the geopolitical risk premium that had supported prices in the previous period faded, especially amid expectations of improved global supply if the agreement is officially signed by the end of the week. Reports also indicated that the draft agreement may include sanctions relief and regulation of Iranian oil exports, which strengthened expectations of higher supply in the coming months and pushed traders to reprice risks in the energy market.

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Ahmed Ashraf

Technical Analyst & Economic Researcher at LDN Global Markets

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