"I don't care if negotiations with Iran are over": US President Trump claims indifference to rising Oil price

💡 DMK Insight

Trump’s nonchalance about Iran negotiations could shake oil markets, especially with tensions already high. If talks stall, expect crude prices to react sharply, potentially pushing WTI above recent resistance levels. Traders should keep an eye on the geopolitical landscape, as any escalation could lead to supply disruptions, impacting not just oil but also related assets like energy stocks and ETFs. The market’s current sentiment seems to be underestimating the risk of conflict, which could lead to a sudden spike in volatility. Watch for key levels around $80 for WTI; a breach could signal a bullish trend. On the flip side, if negotiations somehow revive, we might see a pullback in oil prices, so it’s crucial to stay alert to news cycles and sentiment shifts. Keeping tabs on the daily charts and any shifts in OPEC’s stance will also be vital as we navigate these uncertain waters.