Trump’s Rejection of Iran’s Response Drives Oil Prices Higher

Trump’s dismissal of Iran’s diplomatic response has heightened geopolitical uncertainty, triggering renewed supply concerns in the oil market. Brent crude rose 2.86% within 24 hours, trading above its 20‑day moving average. Technical indicators show an RSI of 53.7, indicating the market is not in an overbought zone, while the MACD remains slightly below the signal line yet still supports the current price rally. Analysts anticipate the upward trend to persist over the next 1–3 days, though volatility could increase. The outlook remains positive, but a cautious monitoring approach is advised.

Trump’s reaction to Iran has amplified geopolitical uncertainty, stoking concerns over supply disruptions. This development could lift WTI prices modestly in the short term. Technical indicators such as the RSI and MACD are near neutral, yet the SMA20 remaining above the SMA50 supports the continuation of the current trend. Prices are expected to rise by 1–2% within the next one to three days.

Petrol prices are expected to rise following Trump’s rejection of Iran’s response, which could positively impact oil producers such as XOM. However, technical indicators suggest short‑term resistance, as the price remains below the 20‑ and 50‑day moving averages and the RSI hovers around 30. A 6.8% decline over the past 24 hours limits the likelihood of a rebound. The news may push the price toward a brief recovery, but additional support may be required to break above the 20‑day average. Consequently, a modest upside is anticipated in the short term, while the persistence of the trend remains uncertain.

The U.S. President's decision to reject Iran's response is anticipated to lift crude oil prices, a development that could favor oil producers such as Chevron (CVX). However, current technical indicators—an RSI of 34.6, a negative MACD, and the price trading below both the 20‑ and 50‑day moving averages—suggest a weak short‑term trend. Consequently, while a price uptick is plausible, its impact may remain limited in the near term. Investors are advised to closely monitor both fundamental and technical signals.