Search
Popular Search

*Crude oil prices extend gains to a five-week high as Middle East tensions escalate
*Houthi threats force Saudi crude tankers to reverse course in the Red Sea
*Renewed U.S.–Iran military actions raise concerns over wider regional disruption
*Strait of Hormuz and Red Sea risks continue supporting oil’s geopolitical premium
Crude oil prices continued to extend gains to a five-week high as concerns grew that energy supply disruptions in the Middle East could worsen. Renewed military actions between the United States and Iran, combined with rising threats to regional shipping routes, have kept traders focused on the risk of prolonged supply disruption.
Two oil tankers carrying Saudi crude to Asia reportedly reversed course in the Red Sea on Tuesday after threats from Iran-aligned Houthi forces. The tankers, which had loaded Saudi crude bound for China and India, made U-turns and were heading toward the Suez route, according to shipping data.
The latest development came after the Houthis announced a naval blockade on Saudi Arabia, expanding the conflict and increasing risks to global energy supplies and trade beyond the Gulf. This has added another layer of uncertainty to oil markets, especially as the Red Sea remains a key route for energy and commercial shipping.
At the same time, tensions between the United States and Iran continued to escalate. U.S. forces reportedly launched strikes on targets in southern and western Iran, while Tehran targeted U.S. sites in Bahrain, Kuwait, and Jordan. Reports that at least one tanker was hit near the Strait of Hormuz further intensified concerns over the security of energy flows.
With both the Red Sea and Strait of Hormuz facing renewed disruption risks, crude oil remains supported by a strong geopolitical risk premium. These routes are critical for global energy trade, and any prolonged instability could tighten supply conditions, especially for Asian buyers.
Overall, oil prices remain highly sensitive to further developments in the Middle East. As long as tensions persist and shipping risks remain elevated, supply disruption fears are likely to continue supporting crude oil prices in the near term.
Technical Analysis

Crude Oil, H4:
Crude oil prices are trading higher, currently testing the 86.90 resistance level, which acts as a key near-term breakout zone.
Momentum remains bullish, with the MACD showing increasing upside momentum and the RSI at 70 entering overbought territory. This suggests that the rally remains strong, although short-term exhaustion risk is also increasing.
A confirmed breakout above 86.90 could open the path toward the next resistance level at 95.80, reinforcing the bullish structure.
However, if bullish momentum fails to persist, crude oil may experience a technical pullback and retest the 76.20 support level, followed by 66.70 if selling pressure intensifies.
Resistance Levels: 86.90, 95.80
Support Levels: 76.20, 66.70
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Important Notice to Visitors
Our products and services are not offered or made available to residents of your jurisdiction. The information on this Website is not directed at persons in your jurisdiction and is not intended as an offer, solicitation, or promotion of our products or services to them.
By clicking “I Understand”, you acknowledge this notice and confirm that you are accessing this Website at your own initiative. Access to this Website does not mean that our products or services are available to you.
Important Notice
Please be advised that our products and services are currently unavailable to residents and entities located in the Philippines.
This restriction is a result of our firm commitment to adhering to applicable legal and regulatory requirements in all jurisdictions where we operate. In line with our internal compliance protocols and evolving global standards, we continuously assess and update access to our platform to ensure full regulatory alignment.
We appreciate your understanding and cooperation.
If you believe this restriction has been applied in error, please contact our support team for further assistance.
Dear Valued Client,
As part of PU Prime’s ongoing commitment to providing a stable and reliable trading environment, please be informed of the following weekly weekend scheduled optimisation activities:
We sincerely apologise for any inconvenience this may cause as we strive to provide you with better service. PU Prime is committed to providing you with the best trading experience and this Weekly Scheduled Optimisation Notice will enable us to ensure that you trade without any unexpected interruptions.
For other upgrades that may involve longer disruptions to your trading, we will announce them ahead of time in a separate announcement.
Important Notice:
Important Notice: Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely on your own initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on a reverse solicitation basis in accordance with the laws of your home jurisdiction.
Important Notice:
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Aviso importante:
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.