USOIL Rebounds As Markets Monitor Iran, Ukraine News

  • USOil

Ukraine Developments

Earlier, there were report that Ukrainian government forces had attacked Russian-backed rebels, which had delivered a hit to market sentiment.

At the time of writing, the Organization for Security and Cooperation in Europe (OSCE) that monitors the situation had not issued any report on these news, but Reuters reports that OSCE recorded multiple shelling incidents on Thursday, citing a diplomatic source. [1]

Tension remain high, despite optimism after Thursday Russian announcement of partial troop withdrawal from near the border with Ukraine. The West has refuted those claims, with US State Secretary Blinken noting yesterday that "we continue to see critical units moving toward the border, not away from the border. So what we need to see is exactly the opposite", during an MSNBC interview. [2]

Later in the day, ABC News reported- based on White House official - that Russia has increased its presence along the Ukrainian border by as many as 7,000 troops in the last few days, with some arriving Wednesday. [3]

Iran Nuclear Talks

Negotiations between key western countries and Iran, in regards to its nuclear program, resumed this month, as they try to revive the 2015 Nuclear deal, that would lift sanctions on Iranian oil.

Hopes for a successful outcome were rekindled after Iran's top nuclear negotiator, Ali Bagheri Kani twitted yesterday: "After weeks of intensive talks, we are closer than ever to an agreement; nothing is agreed until everything is agreed, though". [4]


The commodity ends its two-day slump, due to heightened fears around Ukraine, remaining in the driver's seat. Under these conditions, it has the opportunity to push for new 7+ years high (95.83-94), but fresh catalyst will likely be needed for a larger advance towards and beyond 98.69.

On the other hand, hopes of a deal around Iran's nuclear deal may cap the upside, while potential fresh optimism around Ukraine may lead to renewed pressure. USOIL remains exposed to $90/barrel, but sustained moves below the EMA200 (85.30-86.50) seem to have a high degree of difficulty for now.

Caution is needed, since volatility is high and the commodity's moves are mainly determined by the constant stream of geopolitical news.

Nikos Tzabouras

Senior Financial Editorial Writer

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.



Retrieved 17 Feb 2022


Retrieved 17 Feb 2022


Retrieved 17 Feb 2022


Retrieved 14 Jun 2024

${} / ${getInstrumentData.ticker} /

Exchange: ${}

${} ${getInstrumentData.divCcy} ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%) ${getInstrumentData.priceChange} (${getInstrumentData.percentChange}%)

${getInstrumentData.oneYearLow} 52/wk Range ${getInstrumentData.oneYearHigh}

Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.

Past Performance: Past Performance is not an indicator of future results.

Spreads Widget: When static spreads are displayed, the figures reflect a time-stamped snapshot as of when the market closes. Spreads are variable and are subject to delay. Single Share prices are subject to a 15 minute delay. The spread figures are for informational purposes only. FXCM is not liable for errors, omissions or delays, or for actions relying on this information.