Iranian Media: No US Protocol Clause in Hormuz Agreement

WTI crude oil is exhibiting a technically weak outlook. The price is trading below both the 20-day and 50-day moving averages, with the RSI at 42, approaching the oversold territory. The MACD line is below the signal line and in negative territory, confirming short-term bearish momentum. A news headline indicates that there is no US protocol regarding an agreement between Iran and the US concerning the Strait of Hormuz, which could reduce geopolitical risks, ease supply concerns, and exert downward pressure on oil prices. The 1.43% decline over the past 24 hours further supports this weakness.

The report indicates that there is no agreement between Iran and the US regarding the Strait of Hormuz. This situation could increase geopolitical risks, potentially pushing oil prices higher and benefiting energy companies such as Exxon Mobil. However, technical indicators are weak: the RSI at 43 is near the oversold territory, the MACD is below the signal line, and the price is below both the 20-day and 50-day moving averages. The recent 4.7% decline in the last close suggests that selling pressure may persist in the short term. Therefore, despite the positive potential of the news, the technical outlook points to downside risks.

The news indicates that an agreement between Iran and the US regarding the Strait of Hormuz is progressing without a US protocol. While this suggests that geopolitical risks may decrease in the short term, CVX shares have fallen 2.9% in the last 24 hours, and technical indicators are sending mixed signals. The RSI is at 48.6, in neutral territory, while the MACD is below the signal line and negative, indicating weak momentum. The price is trading just below the 20- and 50-day moving averages, suggesting resistance. In the short term, the positive impact of the news may offset the technical weakness, so direction remains uncertain.

Brent crude slid 4.5% over the past 24 hours, settling at $100.20. The relative strength index (RSI) is near 30, indicating an oversold condition. The MACD remains below its signal line, and prices are trading below both the 20‑ and 50‑day moving averages. The headline reports that the U.S. protocol clause concerning the Strait of Hormuz is absent in the latest Iran‑U.S. standoff, a development that could reduce the risk of supply disruptions and exert downward pressure on oil prices. While technical indicators already signal weakness, the reduction in geopolitical risk premium supports a short‑term decline. Nonetheless, the RSI’s proximity to oversold territory also leaves room for a potential technical correction or brief rebound in the near term.