Oil Prices Rise, Markets Uneasy After Israeli Attack on Qatar
World oil prices rose again in Asian trading on Wednesday (September 10th) after an Israeli attack on Hamas leaders in Doha, Qatar, sparked concerns about escalating tensions in the Middle East.
This attack pushed oil prices up by 2% on Tuesday before correcting, but then stabilizing as the market assessed the potential for further conflict. Israel claimed to have targeted a Hamas team, but the group said the attempt failed despite five casualties.
This situation adds uncertainty to peace talks, while the market worries that further military action could destabilize the region, which is one of the world's energy supply hubs.
In addition to geopolitical factors, oil prices are also supported by the prospect of tougher US sanctions against Russia. President Donald Trump is pushing the European Union to impose higher tariffs on India and China, which continue to buy energy from Moscow.
Oil price at the time of writing is at $66.87
- Buy if the price moves within $66.97
- Sell if the price moves within $66.77
Resistance 2: $67.27
Resistance 1: $67.12
Support 1: $66.62
Support 2: $66.47
DISCLAIMER
Note: This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
