{"id":439372,"date":"2026-10-05T17:08:47","date_gmt":"2026-10-05T10:08:47","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-consolidates-as-traders-await-new-us-iran-developments-while-hormuz-attacks-persist-439372\/"},"modified":"2026-10-05T17:08:47","modified_gmt":"2026-10-05T10:08:47","slug":"crude-oil-consolidates-as-traders-await-new-us-iran-developments-while-hormuz-attacks-persist","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-consolidates-as-traders-await-new-us-iran-developments-while-hormuz-attacks-persist-439372\/","title":{"rendered":"Crude oil consolidates as traders await new US-Iran developments, while Hormuz attacks persist"},"content":{"rendered":"
\n

FUNDAMENTAL
\n OVERVIEW<\/p>\n

\u00a0<\/p>\n

Crude oil has been
\n stuck in a consolidation recently as the market turned its focus to US-Iran negotiations,
\n awaiting some new development. <\/p>\n

The good news is
\n that since the UN General Assembly, there\u2019s been a de-escalation in direct US-Iran
\n confrontation, although attacks on vessels in the Strait of Hormuz persist as
\n Iran defends its blockade. <\/p>\n

Iranian Parliament
\n Speaker Ghalibaf reiterated over the weekend that the Strait of Hormuz will not
\n reopen until the Iranian conditions are fulfilled. Tehran said it has received
\n a US response through mediators but that additional points still need to be
\n communicated. <\/p>\n

Iran’s Foreign
\n Minister Araghchi confirmed that Tehran remains serious about diplomacy but
\n warned that Iran is prepared to respond militarily if the US resumes attacks. <\/p>\n

This morning, the
\n AFP reported that the Saudi East-West pipeline was halted after new attacks. The
\n news triggered some upside in oil prices but some of those gains were pared
\n back after further reports said that the oil pipeline is flowing as normal.<\/p>\n

Looking ahead, it goes without saying that a breakthrough in US-Iran negotiations would
\n send oil prices quickly lower, while a prolonged stalemate or even a
\n re-escalation will keep the market supported into new highs.\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) is
\n consolidating near the lower bound of the channel. We can expect the buyers to continue
\n to step in around the bottom trendline, with a defined risk below it, to
\n position for a rally into the 110.00 resistance. The sellers, on the other
\n hand, will look for a break lower to pile in for a drop into the 68.00 support
\n next, with the 80.00 handle as the first target.<\/p>\n

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

On the 4 hour chart, we can
\n see more clearly the recent rangebound price action as traders turned their
\n focus to US-Iran negotiations, awaiting new developments. From a risk management
\n perspective, the buyers will continue to have a better risk to reward setup around
\n the 88.00 level to keep targeting new highs, while the sellers will need to
\n wait for a break below the lower bound of the channel to open the door for new
\n lows.<\/p>\n

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

On the 1 hour chart, with
\n the new lower low created on Friday, we might now have a downward trendline acting
\n as resistance. If the price rallies into the trendline, we can expect the
\n sellers to lean on it, with a defined risk below it, to position for a drop
\n into the lower bound of the channel. The buyers, on the other hand, will want
\n to see the price breaking higher to pile in for a rally into the 96.77 level
\n next. The red lines define the average daily range<\/a> for today. <\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>we get
\n the US ISM Services PMI. On Wednesday, we have the FOMC meeting minutes. On
\n Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude
\n the week with the University of Michigan Consumer Sentiment survey. The US-Iran
\n developments, though, will be the main focus.<\/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 stuck in a consolidation recently as the market turned its focus to US-Iran negotiations, awaiting some new development. The good news is that since the…<\/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-439372","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439372","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=439372"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/439372\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=439372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=439372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=439372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}