Oil Market Analysis – Friday, September 18, 2026

Crude oil prices continue to decline for the third consecutive session as immediate concerns regarding supply disruptions ease and markets digest geopolitical developments. Brent crude is currently trading near the $102.40–$103.00 range, while West Texas Intermediate (WTI) is hovering around the $100.00–$100.90 level.

Current Technical and Analytical Outlook

- General Trend: The price is undergoing a temporary bearish correction on short-term timeframes (4-hour and daily charts) after shedding the geopolitical risk premium that previously drove Brent toward the $108 level.

- Relative Strength Index (RSI): The indicator has retreated toward neutral levels (around 48–52), reflecting a cooling of buying momentum and the market's entry into a phase of rebalancing and stabilization.

Pivotal Support and Resistance Levels

Brent Crude:

- Resistance (Upside targets): $105.80 (near-term resistance), followed by $108.00–$108.50 (top of the current range).

- Support (Protection zones): $101.80, followed by the pivotal psychological level of $100.00.

West Texas Intermediate (WTI) Crude:

- Resistance (Upside targets): $101.00, followed by $105.00.

- Support (Protection zones): $100.00 (a key stability level); if broken, the next support target is $97.00–$97.50.

Key Influencing Factors

- Saudi East-West Pipeline Repair: Concerns eased following reports indicating that approximately half of the pipeline's capacity could be restored within a few days, with full supply restoration expected within weeks.

- Shipping and Logistics Alternatives: The availability of additional shipments via ship-to-ship oil transfers near Oman alleviated concerns regarding Arabian Gulf exports and navigation through the Strait of Hormuz.

- Demand and Inflation Dynamics: Rising prices—surpassing the $100 mark—have begun to weigh on economic growth and global demand forecasts, curbing excessive buying appetite among traders.