Oil rises on Iran unrest and Russia supply risks – ING

Iran Protests and Supply Risks

The oil market is responding positively to the escalating protests in Iran. Notably, the Iranian government has warned both the U.S. and Israel against interference, raising concerns about potential supply disruptions. The market is becoming increasingly sensitive to the implications of geopolitical risks on oil supplies. Following a strong performance last week, oil prices have continued to rise in early morning trading today. This has prompted traders to act quickly, as investors remain vigilant about the potential for further price increases amid expanding supply fears. However, there are no specific price levels or support and resistance mentioned in the context provided. Thus, in the current market situation, we must evaluate the trading signal as neutral. Traders are advised to monitor the developments closely and adjust their investment strategies accordingly.