LNG Shipments Resume Through Strait of Hormuz After Two-Month Blockade

The lifting of the blockade in the Strait of Hormuz could ease supply concerns and create downward pressure on oil prices. Brent crude is trading at $112.91, below the 20-day moving average of $113.52, indicating short-term weakness. Although the RSI is neutral at 53, the MACD remains below the signal line, suggesting weakening momentum. With the news flow pointing to increased supply, the price may retreat toward the 50-day average at $110.70.

The resumption of LNG shipments following the end of the blockade in the Strait of Hormuz can be considered a positive development for the energy sector. Although XOM stock is technically in neutral territory with an RSI of 56, the MACD remaining below the signal line indicates short-term weakness. However, the optimism generated by the news may help the stock hold above its 20-day SMA of 153.63. A short-term upward move can be expected, but the rally is likely to remain limited.

The end of the blockade in the Strait of Hormuz and the resumption of LNG shipments have reduced uncertainties regarding energy supply, a positive development for oil and gas companies. However, Chevron (CVX) stock does not show sufficient momentum to establish a clear short-term direction, with the RSI at 58 and the MACD remaining below its signal line. Although the price is above the 20- and 50-day moving averages, the limited 0.4% rise in the last 24 hours indicates that the market is cautious in pricing in the news. Therefore, rather than expecting an upward breakout in the short term, consolidation at current levels appears more likely.