{"id":438947,"date":"2026-09-28T17:21:39","date_gmt":"2026-09-28T10:21:39","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/oil-is-back-on-the-rise-after-trump-rejected-irans-deal-to-reopen-hormuz-and-threatened-new-attacks-438947\/"},"modified":"2026-09-28T17:21:39","modified_gmt":"2026-09-28T10:21:39","slug":"oil-is-back-on-the-rise-after-trump-rejected-irans-deal-to-reopen-hormuz-and-threatened-new-attacks","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/oil-is-back-on-the-rise-after-trump-rejected-irans-deal-to-reopen-hormuz-and-threatened-new-attacks-438947\/","title":{"rendered":"Oil is back on the rise after Trump rejected Iran’s deal to reopen Hormuz and threatened new attacks"},"content":{"rendered":"
\n

FUNDAMENTAL
\n OVERVIEW<\/p>\n

\u00a0<\/p>\n

Crude oil has been
\n under pressure at the start of last week as expectations of a
\n de-escalation and an earlier end to the conflict increased going into the UN
\n General Assembly. <\/p>\n

However, those expectations started to fade when
\n Trump reiterated that the US would make a deal with Iran after the November
\n elections. His remarks reduced optimism over a near-term resolution and
\n contributed to a renewed rise in oil prices. <\/p>\n

Going into the weekend, the hopes for a US-Iran
\n deal returned after Iran sent a proposal to reopen the Strait of Hormuz within
\n seven days on certain conditions. Unfortunately, Trump rejected the proposal on Saturday and told reporters that he expected
\n to resume bombing Iran after the midterms<\/a>.<\/p>\n

Unsurprisingly, oil opened the week higher and
\n extended the gains as IRNA news reported that there is no plan for a new round
\n of negotiations with the American side on the agenda and the Minister of
\n Foreign Affairs will return to Tehran on Tuesday.<\/p>\n

Looking ahead, it goes without saying that a breakthrough in
\n negotiations would send oil prices quickly lower, while a prolonged stalemate
\n or even a re-escalation will keep the market supported into new highs.\u00a0 <\/p>\n

Keep in mind that Trump is facing many constraints at
\n the moment, so an end to the war is more likely than not. The only question is
\n the timeline and that\u2019s what\u2019s been driving the price action recently. <\/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) rose back
\n above the major 93.00 zone as hopes for a quick US-Iran deal faded. The buyers piled
\n in, with a defined risk below the zone, to position for a rally into the 110.00
\n resistance. The sellers, on the other hand, will want to see the price falling
\n back below the 93.00 zone to target a drop into the lower bound of the channel
\n around the 85.00 handle.<\/p>\n

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

On the 4 hour chart, the
\n price will likely make a new higher high in the next few days, so we should
\n have the upward trendline then defining the bullish momentum. If we eventually
\n get a pullback into the trendline, we can expect the buyers to lean on it, with
\n a defined risk below it, to keep pushing into the 110.00 resistance. The
\n sellers, on the other hand, will look for a break below the trendline to pile
\n in for a drop into the lower bound of the channel. <\/p>\n

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

On the 1 hour chart, we have
\n another minor trendline defining the bullish momentum on this timeframe. The
\n buyers will likely continue to lean on the trendline, with a defined risk below
\n it, to keep targeting new highs. The sellers, on the other hand, will look for
\n a break lower to extend the pullback into the 4-hour trendline. The red lines
\n define the average daily range<\/a> for today. <\/p>\n

UPCOMING CATALYSTS<\/p>\n

Tomorrow<\/a>, we get the US
\n Consumer Confidence report and the US Job Openings data. On Wednesday, we have
\n the US ADP and the US PCE price index. On Thursday, we get the US ISM
\n Manufacturing PMI and the latest US Jobless Claims figures. On Friday, we
\n conclude the week with the US NFP report. The focus, though, will remain on Middle
\n East developments.<\/p>\n

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

FUNDAMENTAL OVERVIEW \u00a0 Crude oil has been under pressure at the start of last week as expectations of a de-escalation and an earlier end to the conflict increased going into the UN…<\/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-438947","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438947","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=438947"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/438947\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=438947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=438947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=438947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}