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Market Insights > Daily Market Analysis New

Oil Prices Rebound as U.S.–Iran Clashes Renew Supply Disruption Fears

Published: 8 May 2026,06:21

Daily Market Analysis New

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Key Takeaways

*Oil prices rebound after renewed military clashes in the Strait of Hormuz
*U.S.–Iran ceasefire stability comes into question
*Rising geopolitical tensions revive energy supply concerns
*Markets reassess risk sentiment amid escalating Middle East conflict

Market Summary

Crude oil prices rebounded sharply after renewed military clashes between the United States and Iran in the Strait of Hormuz reignited fears over global energy supply disruptions.

The escalation came just one day after both sides signaled progress in ceasefire discussions. According to U.S. officials, American forces intercepted multiple Iranian attacks involving missiles, drones, and armed small boats, before launching retaliatory strikes while navigating through the Gulf region.

The latest flare-up has once again raised doubts over the durability of the U.S.–Iran ceasefire, which Donald Trump previously extended indefinitely to allow more time for negotiations. Although Trump continued to describe discussions as “very good,” the sudden exchange of fire has kept investors cautious over the prospect of a lasting peace agreement.

Oil prices moved higher as markets rapidly repriced geopolitical risks tied to the Middle East. The renewed tensions have revived concerns that disruptions in the Strait of Hormuz could once again threaten global energy flows, especially given the waterway’s importance to worldwide crude and liquefied natural gas shipments.

Adding to the uncertainty, Trump warned that the United States could respond “more violently” if Iran failed to reach an agreement quickly, reinforcing fears of further escalation despite his insistence that the ceasefire technically remains in place.

Overall, the latest developments have challenged the recent improvement in market sentiment and tested the durability of the broader risk-on rally. With geopolitical uncertainty once again intensifying, oil markets are expected to remain highly sensitive to further developments surrounding U.S.–Iran negotiations and shipping activity in the Strait of Hormuz.

Technical Analysis

CL-Oil, H4:

Crude oil prices are trading higher but have retraced after testing the 98.50 resistance level, indicating slowing upside momentum near recent highs.

Momentum indicators are turning cautious, with the MACD showing fading bullish strength, while the RSI at 53 is attempting to form a bearish crossover, suggesting potential short-term correction and profit-taking pressure.

If selling momentum increases, prices may retrace toward the 90.95 support level, with further downside toward 85.90 if bearish pressure intensifies.

However, if bullish momentum stabilizes, a renewed move above 98.50 could reopen the path toward the next resistance at 104.60.

Resistance Levels: 98.50, 104.60

Support Levels: 90.95, 85.90

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