{"id":440462,"date":"2026-10-20T17:40:06","date_gmt":"2026-10-20T10:40:06","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-surges-further-amid-houthis-attacks-on-saudi-energy-targets-and-stalled-us-iran-negotiations-440462\/"},"modified":"2026-10-20T17:40:06","modified_gmt":"2026-10-20T10:40:06","slug":"crude-oil-surges-further-amid-houthis-attacks-on-saudi-energy-targets-and-stalled-us-iran-negotiations","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-surges-further-amid-houthis-attacks-on-saudi-energy-targets-and-stalled-us-iran-negotiations-440462\/","title":{"rendered":"Crude oil surges further amid Houthis attacks on Saudi energy targets and stalled US-Iran negotiations"},"content":{"rendered":"
\n

Crude oil is extending the
\n gains into new highs this week as the market quickly faded the pullback
\n triggered by Trump\u2019s waiver of Russian sanctions. The main driver continues to
\n be the situation in the Middle East where the stalled US-Iran negotiations and
\n the ongoing Saudi-Houthi conflict keep the risk premium elevated. \u00a0<\/p>\n

The Houthis said yesterday
\n that they launched several attacks on Saudi energy, airport \u200band military
\n targets. This conflict intensified sharply recently and has been one of the
\n main drivers of higher oil prices. A de-escalation would likely send crude oil
\n lower and potentially erase October\u2019s gains. <\/p>\n

On the US-Iran talks front, there was a report yesterday from Al-Arabiya<\/a> saying that a breakthrough in US-Iran negotiations is
\n expected to be announced this week. It\u2019s not the first time we\u2019ve had such
\n vague reports that eventually failed to live up to expectations, so take it
\n with a pinch of salt, but be prepared to adjust positions if we do get a surprise
\n breakthrough. \u00a0<\/p>\n

It goes without saying
\n that a breakthrough would trigger a strong selloff in crude oil which could
\n quickly drop back to pre-war levels. A prolonged stalemate or a re-escalation,
\n on the other hand, will continue to keep the market supported. \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 above
\n the 96.77 level, retested it, and extended the gains into new highs as the buyers
\n piled in to target the 110.00 resistance. If the price gets there, we can
\n expect the sellers to step in, with a defined risk above the resistance, to
\n position for a drop back into the lower bound of the channel. \u00a0<\/p>\n

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

On the 4 hour chart, we have
\n a minor upward trendline defining the bullish momentum. The buyers will likely
\n continue to lean on the trendline, with a defined risk below it, to keep
\n pushing into new highs. The sellers, on the other hand, will look for a break
\n lower to extend the 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, there\u2019s
\n not much we can add here as the buyers will continue to have a better risk to
\n reward setup around the trendline, while the sellers will need a break below
\n the trendline and the 96.77 level to target a deeper pullback into the lower
\n bound of the channel. The red lines define the average daily range<\/a> for today. <\/p>\n

UPCOMING CATALYSTS<\/p>\n

On
\n Thursday<\/a> we get the latest US Jobless Claims figures, while on Friday we
\n conclude the week with the Flash US PMIs. The focus will remain on the Middle
\n East developments.<\/p>\n

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

Crude oil is extending the gains into new highs this week as the market quickly faded the pullback triggered by Trump\u2019s waiver of Russian sanctions. The main driver continues to be 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-440462","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440462","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=440462"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/440462\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=440462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=440462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=440462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}