Oil Market Analysis – Friday, September 25, 2026

Crude oil prices are trading with a slight corrective pullback today following yesterday's strong gains, as the markets experience a period of volatility and consolidation:

- Brent Crude: Trading near the $105.10–$105.80 per barrel range.

- West Texas Intermediate (WTI): Trading near the $92.80–$93.80 per barrel range.

Technical Analysis (Intraday Trading)

- General Trend (Daily / 4-Hour Timeframes): A short-term corrective pullback within an overall bullish trend driven by geopolitical concerns. Prices are testing nearby support zones to gauge the buyers' ability to absorb current selling pressure.

- Relative Strength Index (RSI): Hovering between the 45 and 50 levels, reflecting a decline in rapid bullish momentum and a shift into a state of temporary equilibrium.

Pivotal Support and Resistance Levels (WTI Crude)

Resistance Levels:

- $94.60: Immediate resistance; a breakout here paves the way for a return to higher-risk levels.

- $97.60: Key resistance level; breaching this would shift the focus back toward previous highs.

Support Levels:

- $92.00: Immediate pivotal support level.

- $89.10: Secondary support level and the target for the correction should the selling pressure extend.

Key Factors and Economic Drivers

- Hopes for Geopolitical De-escalation: Prices fell by 1% to 1.5% today following reports and positive signals regarding potential talks and a truce between the United States and Iran.

- Supply-Side Concerns: Prices remain firm at elevated levels (above $90 for US crude and $100 for Brent) due to persistent anxiety regarding shipping routes and global energy inventories.

- Inventory and Demand Data: A slight rise in US oil inventories is providing additional short-term downward pressure.

Expected Trading Scenarios

- Bearish Scenario (Correction Extension): Stability below the $94.60 level could push the price to test the first support at $92.00; a break below this level would open the way toward the $89.10 area.

- Bullish Scenario (Resumption of the Uptrend): Breaking above the $94.60 resistance and closing above it would restore positive momentum, targeting $97.60 and subsequently higher levels.