Aramco: 100 Million Barrels of Oil Lost Per Week if Strait of Hormuz Remains Closed

News that a closure of the Strait of Hormuz could result in a loss of 100 million barrels of oil per week has heightened supply concerns, potentially providing upward support for Brent crude prices. Technically, while the RSI is neutral at 50, the MACD remains below its signal line, suggesting limited upside in the short term. The price is trading just below the 20-day moving average (103.99); a break above this level could accelerate upward momentum. However, as the impact of the news depends on geopolitical developments, uncertainty is high, and the upside expectation is assessed with moderate confidence.

News of a potential major oil supply disruption if the Strait of Hormuz remains closed could push oil prices higher and positively impact energy stocks such as XOM. Technically, the RSI at 48.5 is in neutral territory, while the MACD has just crossed above its signal line, indicating short-term upside potential. Although the price closed above the 20-day moving average (146.08), it remains below the 50-day moving average (150.57), suggesting limited upside risk. A 5% decline in the last 24 hours indicates that selling pressure may persist despite the news, so while the direction is upward, confidence is moderate.

News of a potential major oil supply disruption if the Strait of Hormuz remains closed could push oil prices higher and positively impact energy stocks such as CVX. Technically, the RSI is near the 50 level and above the MACD signal line, indicating short-term upside potential. However, the stock has fallen 4.8% in the last 24 hours and is trading below its 50-day moving average, suggesting the rally may be limited.

The continued closure of the Strait of Hormuz poses a serious threat to global oil supply and could drive oil prices higher. Although BP shares have fallen 5.4% in the last 24 hours, the RSI at 44 has not yet approached oversold territory. The MACD remains negative but is approaching the signal line, potentially signaling a bullish crossover. In the short term, this geopolitical risk could serve as a positive catalyst for oil companies. However, with the stock trading just above its 20-day moving average, the upside may be limited.