Niche Spread Bets Emerge in Oil Market Amid Iran War Effects

Brent crude oil has declined 1.76% over the past 24 hours to $101.29, yet the RSI remains neutral at 51.6. The MACD line, while above the signal line, is hovering near zero, indicating weak momentum. The convergence of the 20-day and 50-day moving averages, with the price staying above both, adds to short-term directional uncertainty. Spread bets against the backdrop of Iran war headlines suggest the market is pricing in geopolitical risks but without a clear directional signal. Therefore, a sideways trend is expected in the near term.

Although WTI crude oil prices have fallen 2.3% in the last 24 hours, technical indicators do not signal a clear direction. The RSI stands at 50.6, in neutral territory, while the MACD shows a weak positive stance just above the signal line. The 20-day and 50-day moving averages are converging, suggesting a short-term sideways range. News headlines indicate a focus on spread betting against geopolitical risks, implying that investors are not expecting a clear trend and are seeking protection against volatility. Therefore, prices are likely to fluctuate around current levels in the near term.

XOM shares have fallen 6.8% in the last 24 hours to $144.40. Although the RSI at 32.8 is approaching oversold territory, the MACD continues to give a sell signal. Trading below the 20-day SMA ($146.12) and 50-day SMA ($150.72) confirms short-term weakness. News headlines highlight geopolitical uncertainty, pointing to spread bets on the risk of war with Iran, suggesting that volatility in oil prices may persist. Therefore, the downtrend is expected to continue in the short term.

Chevron (CVX) shares fell 6.1% in the last 24 hours to $181.46. While the RSI at 34.5 approaches oversold territory, the MACD line remains below the signal line and in negative territory. The 20-day simple moving average ($182.64) has been broken, and the 50-day average ($188.21) presents a clear resistance level. News headlines point to spread bets on Iran war risk, suggesting geopolitical uncertainty could pressure oil prices and energy stocks. In the short term, technical indicators may remain weak, but the oversold zone could limit the pace of further declines.