Oil: Softer prices on Iran talks and tariffs – ING

💡 DMK Insight

Oil prices are reacting to geopolitical tensions, and here’s why that matters: The recent rally in ICE Brent suggests traders are pricing in heightened risks due to potential US actions in Iran. However, with US-Iran talks on the horizon, the market’s current softness indicates a possible pullback as traders reassess their positions. This volatility can create opportunities for day traders looking to capitalize on short-term swings. Watch for key support levels—if Brent holds above a certain threshold, it could signal a buying opportunity, while a drop below may trigger further selling. But here’s the flip side: if negotiations yield positive outcomes, we could see a significant drop in prices as fears subside. Traders should keep an eye on the news cycle and be ready to adjust strategies accordingly. Monitoring the daily chart for breakout patterns or reversals will be crucial in the coming days.