Here's the News on Oil Weakening After US-Iran Talks
World oil prices weakened in trading on Monday (June 22nd) during the European session after talks between the United States and Iran in Switzerland raised new hopes for global supply stability. Brent traded in the range of US$79–80 per barrel, while WTI hovered around US$76–77 per barrel.
Price pressure emerged after Iran announced it would receive oil and petrochemical export waivers, easing concerns about supply shortages. However, geopolitical risks in the Strait of Hormuz and the Middle East region continue to pose potential short-term volatility for oil prices. (asd)
Oil Price at the Time of This Analysis: $78.74
- Buy if the price moves to $79.36
- Sell if the price moves to $78.29
Resistance 2: $81.10
Resistance 1: $80.03
Support 1: $77.89
Support 2: $76.82
Note: This article is analytical in nature and is not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id