{"id":441245,"date":"2026-10-30T21:00:06","date_gmt":"2026-10-30T14:00:06","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-extends-gains-as-traders-hedge-into-weekend-amid-risks-of-us-strikes-on-iran-441245\/"},"modified":"2026-10-30T21:00:06","modified_gmt":"2026-10-30T14:00:06","slug":"crude-oil-extends-gains-as-traders-hedge-into-weekend-amid-risks-of-us-strikes-on-iran","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/crude-oil-extends-gains-as-traders-hedge-into-weekend-amid-risks-of-us-strikes-on-iran-441245\/","title":{"rendered":"Crude oil extends gains as traders hedge into weekend amid risks of US strikes on Iran"},"content":{"rendered":"
\n

Crude oil extended the
\n gains into new highs yesterday after the Houthis targeted the Aramco oil
\n company in widespread wave of missile attacks. <\/p>\n

The bullish momentum then
\n accelerated after the Wall Street Journal reported that in a rare in-person
\n visit to the White House, the top US commander in the Middle East briefed Trump
\n on military options for Iran as the US weighed resuming major combat operations.\n <\/p>\n

This is the last weekend
\n before the US midterm elections, so there\u2019s some concern of a US attack over
\n the weekend. We might see some hedging going into the weekend that could push
\n oil prices even higher. <\/p>\n

The market remains supported amid the Saudi-Houthi conflict and the possibility of renewed
\n US strikes. We would need a de-escalation in the Saudi-Houthi conflict or a
\n surprising breakthrough in US-Iran negotiations to get a significant correction
\n in oil prices.<\/p>\n

Keep also in mind that
\n the market could take another US attack as an exit strategy, so after the
\n initial spike we could see traders unwinding bullish bets. But that will depend
\n on what Trump says after the potential attack and how strong Iran\u2019s retaliation
\n is going to be.<\/p>\n

If we don\u2019t see any
\n attack this weekend, oil prices could open lower on Monday and what happens
\n next, will depend on further Middle East developments.<\/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) extended the
\n gains into new highs as fears of an imminent US strikes on Iran grew. Technically,
\n there\u2019s not much we can glean from this timeframe as the most important levels
\n remain the lower bound of the channel and the resistance around the 110.00
\n level, so we need to zoom in to see some more details.<\/p>\n

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

On the 4 hour chart, we have
\n the upward trendline defining the bullish momentum. The buyers continue to lean
\n on the trendline, with a defined risk below it, to keep pushing into new highs.
\n The sellers, on the other hand, will want to see the price breaking lower to
\n pile in for a correction 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 it
\n to open the door for new lows. The red lines define the average daily range<\/a> for today. <\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>we conclude the week with the US Employment Cost Index,
\n but the focus will remain on the Middle East developments.<\/p>\n

\u00a0<\/p>\n

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

Crude oil extended the gains into new highs yesterday after the Houthis targeted the Aramco oil company in widespread wave of missile attacks. The bullish momentum then accelerated after the Wall Street…<\/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-441245","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441245","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=441245"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=441245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=441245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=441245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}