{"id":51451,"date":"2026-03-09T13:08:11","date_gmt":"2026-03-09T13:08:11","guid":{"rendered":"https:\/\/xlence-com.wp-dev.int.theitops.net\/?post_type=news_analysis&p=51451"},"modified":"2026-03-09T13:08:35","modified_gmt":"2026-03-09T13:08:35","slug":"oil-prices-reaching-for-the-sky","status":"publish","type":"news_analysis","link":"https:\/\/www.xlence.com\/de\/news-analysis\/oil-prices-reaching-for-the-sky\/","title":{"rendered":"Oil prices reaching for the sky"},"content":{"rendered":"\n

Oil prices reaching for the sky as geopolitical tensions in the Middle East<\/a> intensify and supply concerns rise. WTI and Brent surged near $120 per barrel amid fears of disruptions around the Straits of Hormuz, while markets closely watch potential G7 strategic reserve releases and the broader impact on equities, the USD, and global risk sentiment.<\/p>\n\n\n\n

Oil prices rallied like there is no tomorrow<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n

Oil prices rallied<\/a> in today\u2019s Asian session and it\u2019s characteristic that at some point WTI\u2019s price action climbed as high as almost $120\/barrel, as did Brent\u2019s price. The worries for the supply side of the international oil market peaked as the US-Iran war is ongoing with no stop in sight and the Straits of Hormuz are almost fully closed. The current environment has led to oil prices reaching for the sky, as traders react to fears of a major disruption in global supply. Such developments have pushed volatility higher, reinforcing the narrative of oil prices reaching for the sky in global energy markets.<\/p>\n\n\n\n

On the flip side, G7 countries stated that they will be discussing the release of 400 million barrels from their strategic reserve of 1.2 billion barrels, which tended to ease market worries somewhat, relenting by the early European session, half of the gains made since today\u2019s opening.<\/p>\n\n\n\n

Xlence Research Team opinion<\/strong><\/h3>\n\n\n\n

Should the market worries for the supply side of the international oil market ease even further, say for example should the G7, signal that they are willing to release as many barrels as necessary; in order to keep oil prices under control, we may see oil prices correcting even lower. <\/p>\n\n\n\n

Should on the flip side, market worries intensify further, for example should the G7 meeting for oil be unconvincing for their intentions, or should we see further escalation in the US-Iranian war, we may see oil bulls pushing prices higher.\u00a0<\/p>\n\n\n\n

US stock markets retreat<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n

US, Asian and European equities were on the retreat today in the pre-American sessions, as worries intensified further given the steep rise of oil prices. Yet US equities had an additional reason given the US employment report for February, released on Friday. Overall the market\u2019s cautious sentiment seems to be maintained and may have been also a bit more enhanced given the risks surrounding\u00a0 private debt. \u00a0<\/p>\n\n\n\n

Xlence Research Team opinion<\/strong><\/h3>\n\n\n\n

We see the case for the situation of the oil market being the key determinant on a fundamental level for US stock markets. Should we see market worries about the issue intensifying further, say for example should oil prices start rallying again, we may see US equities retreating further. Vice versa, should we see market worries easing abut the path of oil prices, we may see US equities possibly recovering somewhat. \u00a0<\/p>\n\n\n\n

USD regains traction in the FX market<\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n

The USD was rather muted on Friday as the release of February\u2019s US employment report showed a substantially weakened US employment market. Yet in today\u2019s Asian session opened with rally as the flight to safety by investors provided support for the greenback. Market worries for higher oil prices provoking a possible intensification of inflationary pressures in the US economy, thus may add pressure on the Fed to keep rates unchanged for longer. Also in the week\u2019s calendar, we have the release of US inflation metrics, namely of the\u00a0 CPI and PCE rates\u00a0 on Wednesday and Friday respectively, which could increase volatility in the FX market.\u00a0\u00a0 \u00a0\u00a0<\/p>\n\n\n\n

Xlence Research Team opinion<\/strong><\/h3>\n\n\n\n

Should we see the market\u2019s worries intensifying about oil prices, we may see the USD\u2019s role as a safe haven intensifying and thus the greenback getting more support. On the other hand, should we see the market\u2019s worries easing the USD may be allowed to correct lower.<\/p>\n\n\n\n

Bitcoin\u2019s price stabilises<\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n

Bitcoin\u2019s price dropped and stabilised, over the weekend and despite some slight bullish tendencies in today\u2019s Asian session, remains relatively unchanged as these lines are written. It\u2019s notable that Bitcoin\u2019s price remained relatively unchanged despite the turmoil in the markets. Yet we also have to note that the market seems to remain in a bearish predisposition of the crypto\u2019s price.<\/p>\n\n\n\n

Xlence Research Team opinion<\/strong><\/h3>\n\n\n\n

Overall we tend to maintain a bias for a sideways motion of the crypto\u2019s price and any rise of the crypto\u2019s price may be treated as a correction higher, unless it surpasses 73k. Also we note the bearish predisposition of the market for the crypto which may ultimately lead to a drop of its price for the fifth consecutive day.<\/p>\n\n\n\n

Disclaimer: This information is not considered investment advice or an investment recommendation, but instead a marketing communication.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The EUR\/USD pair gains traction to near 1.1915 during the early European session on Wednesday, bolstered by a weaker US Dollar (USD).<\/p>\n","protected":false},"author":2,"featured_media":44769,"template":"","news_category":[107],"class_list":["post-51451","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-latest-news"],"acf":[],"yoast_head":"\nOil prices reaching for the sky amid Iran war tensions<\/title>\n<meta name=\"description\" content=\"Oil prices reaching for the sky as Iran war risks tighten supply, pushing WTI and Brent higher while stocks retreat and USD gains.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xlence.com\/en\/news-analysis\/oil-prices-reaching-for-the-sky\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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