Iraq Reaches Agreement with US for Oil Exports via Hormuz

The news does not directly concern GOOGL but rather global oil supply. Linking Iraq's oil exports through Hormuz to a US agreement could reduce the geopolitical risk premium and put downward pressure on oil prices, potentially creating a mild risk-on sentiment for technology stocks. However, GOOGL's technical picture is mixed: the price is below the SMA20, around the SMA50, and the RSI at 46 places it in neutral-to-weak territory; the MACD is negative but above its signal, indicating momentum is slightly recovering. Since the news's impact on GOOGL specifically is indirect and limited, the direction remains uncertain. In the short term, a sideways move in the 284-287 range is more likely.

Iraq's agreement with the US for oil exports through Hormuz could enhance the security of supply routes, reducing the geopolitical risk premium and creating downward pressure on Brent. The price has already fallen 3.5% in 24 hours and is trading below the SMA20/SMA50; RSI at 40 indicates weakness but not oversold. MACD is negative below the signal line, with short-term momentum tilted downward. However, the impact of the news may be limited; it is uncertain when the supply increase will actually materialize. I expect a mild downward trend over the next 1-3 days.