{"id":438631,"date":"2026-09-23T16:00:08","date_gmt":"2026-09-23T09:00:08","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-selloff-in-oil-prices-stalls-as-trump-pours-cold-water-on-expectations-of-an-earlier-end-to-the-conflict-438631\/"},"modified":"2026-09-23T16:00:08","modified_gmt":"2026-09-23T09:00:08","slug":"the-selloff-in-oil-prices-stalls-as-trump-pours-cold-water-on-expectations-of-an-earlier-end-to-the-conflict","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/the-selloff-in-oil-prices-stalls-as-trump-pours-cold-water-on-expectations-of-an-earlier-end-to-the-conflict-438631\/","title":{"rendered":"The selloff in oil prices stalls as Trump pours cold water on expectations of an earlier end to the conflict"},"content":{"rendered":"
\n

FUNDAMENTAL
\n OVERVIEW<\/p>\n

\u00a0<\/p>\n

Crude oil dropped further yesterday after a Kyodo
\n report said that Iran has offered to reopen the Strait of Hormuz within seven
\n days if the US lifted its blockade of Iranian ports and halted military
\n operations around the strait. The proposal was reportedly conveyed to
\n Washington through intermediaries as diplomatic efforts intensified around the
\n UN General Assembly. The report was later confirmed by Reuters.<\/p>\n

Oil prices then extended the losses after Saudi Arabia
\n was said to be ready to resume crude oil exports from the Red Sea port of Yanbu.
\n Several Asian refiners have reportedly been informed by Saudi Aramco that they
\n will soon be able to collect crude from Yanbu again.<\/p>\n

Fars News denied the reports of Iran offering to
\n reopen the Strait of Hormuz under certain conditions, but this was later
\n confirmed by IRIB news after US Special Envoy Witkoff met with the Iranian
\n delegation in New York. The US-Iran talks were described as constructive and
\n promising, and Trump mentioned that they scheduled another meeting in the very
\n near future.<\/p>\n

Unfortunately, the timeline for the end of the
\n conflict remains uncertain and Trump poured some cold water on expectations of
\n an earlier end after he repeated that the US would make a deal with Iran after
\n the November elections. I think this could lead to a pullback in oil prices as traders reduce their short positions,\u00a0awaiting further developments.<\/p>\n

Trump is facing many constraints at the moment, so an
\n end to the war is more likely than not, but the only question is the timeline. If
\n the de-escalation continues and markets start to sense an earlier end, then oil
\n prices should continue to drift lower. Conversely, if the current US-Iran talks
\n fail again and we see a re-escalation, we can expect WTI oil to surge quickly
\n back above the $100 and weigh on the general risk sentiment. <\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

CRUDE OIL
\n TECHNICAL ANALYSIS \u2013 DAILY TIMEFRAME<\/p>\n<\/p>\n

On the daily chart, we can
\n see that crude oil<\/a>(CFD contract) broke below
\n the major support zone around the 93.00 level and extended the losses below the
\n 90.00 level. The natural target for the sellers should be the lower bound of
\n the channel around the 85.00 level. <\/p>\n

If the price gets there, we
\n can expect the buyers to step in with a defined risk below the trendline to
\n position for a rally into new highs. The sellers, on the other hand, will want
\n to see the price breaking lower to increase the bearish bets into the 68.00
\n support next.<\/p>\n

CRUDE OIL TECHNICAL ANALYSIS \u2013 4 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 4 hour chart, we
\n have a downward trendline defining the bearish momentum. If we get a pullback,
\n we can expect the sellers to lean on the trendline with a defined risk above it
\n to keep pushing into new lows. The buyers, on the other hand, will want to see
\n the price breaking higher to pile in for a rally back into the 105.00
\n resistance.<\/p>\n

CRUDE OIL TECHNICAL
\n ANALYSIS \u2013 1 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 1 hour chart, we
\n have a minor consolidating around the lows at the moment. The buyers will want
\n to see the price breaking above the 90.40 swing high to target a pullback into
\n the 93.00 resistance. The sellers, on the other hand, will look for a break
\n below the 88.70 low to extend the drop into the lower bound of the channel. The
\n red lines define the average daily range<\/a> for today. <\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>, we get the Flash US
\n PMIs, while tomorrow we have the Trump-Xi meeting. The focus will remain on
\n US-Iran talks.<\/p>\n<\/p>\n

This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

FUNDAMENTAL OVERVIEW \u00a0 Crude oil dropped further yesterday after a Kyodo report said that Iran has offered to reopen the Strait of Hormuz within seven days if the US lifted its blockade…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-438631","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=438631"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438631\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=438631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=438631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=438631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}