US-Iran Talks in Doubt, Oil Prices Jump 4%
Newsmaker.id - Oil prices surged nearly 4% in trading on Wednesday (July 22nd) after US Secretary of State Marco Rubio stated that Iran has not shown seriousness in peace talks. This statement dimmed hopes that the conflict between Washington and Tehran could soon be resolved through diplomacy.
Rubio emphasized that the United States remains open to negotiations but will take necessary steps if Iran does not commit to the diplomatic process. Tensions escalated after the US military again attacked several targets in Iran, while Tehran launched retaliatory attacks on American military facilities in the Middle East.
Market concerns also increased after the Iran-backed Houthi group announced a blockade on Saudi Arabian oil shipments through the Red Sea. Three tankers carrying Saudi oil to China and India reportedly turned back, while Iran's threats to shipping in the Strait of Hormuz put two major global energy trade routes at risk of simultaneous disruption.
Brent Price at the Time of This Analysis' Release: $90.61
- Buy if the price moves to $90.50
- Sell if the price moves to $90.70
Resistance 2: $90.83
Resistance 1: $90.75
Support 1: $90.41
Support 2: $90.10
Note: This article is analytical in nature and is not a definitive reference. Please consider the impact of fundamental and technical developments on your trading before making any investment decisions.
