Iran and Ukraine Wars Drive Global Refinery Output to Multi-Year Lows

The news headline indicates that geopolitical risks are negatively affecting oil supply, but since GOOGL is not a direct energy company, the impact of this news on the stock may be limited. Technical indicators show that the RSI is approaching overbought territory at 67.6, and the MACD is above its signal line, suggesting that upward momentum could continue in the short term. However, although the price is above the 20- and 50-day moving averages, the latest close at $402.72 is not far from these levels, increasing the likelihood of a sideways trend. Overall, due to the uncertainty created by the news and mixed signals from technical indicators, no clear direction is expected in the short term.

The news headline indicates that geopolitical risks are negatively impacting refinery output, but this could point to demand weakness rather than supply constraints. On the technical indicators, the RSI is in weak territory at 41, the MACD is below the signal line, and the price is trading below both the 20-day and 50-day moving averages. The 1.8% decline in the last 24 hours confirms negative short-term momentum. Therefore, the downtrend is expected to continue in the near term.

The news headline points to a significant contraction on the supply side, which typically drives oil prices higher. However, technical indicators are sending mixed signals: the RSI is neutral at 48, the MACD is below the signal line, and the price is trading below the 20-day moving average. The 1% decline over the past 24 hours suggests that investors have not immediately reacted to the news. In the short term, the price is expected to fluctuate within the $100-102 range.

The headline indicates a tightening in oil supply driven by geopolitical risks, which is favorable for energy companies. Exxon Mobil (XOM) shares rose 4.7% in the last 24 hours; the Relative Strength Index (RSI) sits at 63, not yet approaching the overbought zone, and the MACD is positioned above its signal line. Short‑term bullish momentum could persist, but caution is advised as the RSI nears 70 and the price remains above both the 20‑period and 50‑period simple moving averages (SMA20 and SMA50).