OIL: A Neutral Bias Leaves Oil Exposed to US Iran Headlines
Feb-10 04:16
- As the planned meeting between President Trump and Israeli PM Netanyahu draws near analysts globally are looking for clues for possible outcomes. The United States and Israel most recently conducted a large-scale bombing campaign against Iran in June 2025, an event often referred to as the Twelve-Day War. Israel stated the strikes were a "last-resort effort" to prevent Iran from acquiring nuclear weapons and to neutralize the threat of annihilation. President Trump stated the intervention was for "collective self-defense" of Israel and to "eliminate Iran's nuclear program" after a 60-day negotiation deadline expired without an agreement.
- As of February 2026, Israeli Prime Minister Benjamin Netanyahu's stance is that Israel is prepared to go to war with Iran if it crosses specific "red lines" regarding its nuclear and ballistic missile programs. While he has publicly stated a desire to avoid a "war of attrition," his administration is actively preparing for potential unilateral military action (source Times of Israel)
- It is difficult to see compromise coming from the meeting as momentum indicators turn neutral for WTI and Brent at present, making them more vulnerable to geopolitical headlines. US Warships have arrived in the Middle East as a counter to the talks with Tehran, reminding them that military strikes are possible.
- WTI has traded in tight range of $63.87 - $64.50 and is down -0.25% today to US$64.20 after strong gains overnight.
- Brent has traded in a tight range of $68.44 - $69.07 and is currently at US$68.94bbl, down -0.14%
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AUSSIE 3-YEAR TECHS: (H6) Recovery Mode
Jan-10 22:45
- RES 3: 97.796 - 1.618 proj of the Sep 3 - 12 - 15 price swing
- RES 2: 96.780 - High Jun 26 (cont)
- RES 1: 96.700 - High Sep 12
- PRICE: 95.890 @ 16:40 GMT Jan 9
- SUP 1: 95.740 - Low Dec 22
- SUP 2: 95.480 - Low 1st Nov ‘23
- SUP 3: 94.932 - 1.0% 10-dma envelope
Prices bounced again Thursday, supported by strength in global bond markets and a smoother inflation picture at the December CPI print. As such, prices edged further away from recent lows. Nonetheless, slower pricing for additional RBA easing - and partial pricing for a return to rate hikes in 2026 - should keep the front-end of the curve under pressure. This keeps prices well below prior resistance at 96.615, the Sep 12 high, and refocuses attention on 95.480 as the next major support.
MNI: MNI TEST 02, Please Ignore
Jan-09 23:36
Test Test TEST
MNI: MNI Test, Please Ignore
Jan-09 23:30
Test, ignore
