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Oil prices steady amid Middle East tensions and US stock drops, eyeing key resistance breaks for further gains.

Market News
29 Oct 2026, 06:48 WIB
FXEmpire
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Bullish
Oil prices steady amid Middle East tensions and US stock drops, eyeing key resistance breaks for further gains.

Oil prices held steady on Thursday after gains, balancing hopes for peace talks in the Middle East against escalating tensions in Yemen and supply concerns. WTI crude hovers around $101.70 and Brent near $114.90, supported by a surprising drop in US crude inventories. Analysts see strong bullish momentum, with WTI needing to break above $106 to target $120, and Brent aiming to surpass $120 to reach $125-$135. While peace efforts may limit price rallies, renewed Middle East conflicts could drive oil prices higher.

Oil prices and related market tensions provide context for energy-sector trading on Pluang. For readers following energy stocks, here is Pluang's market snapshot as of Oct 29, 2026 11:11 WIB: Among 79 priced US energy stocks, 57 rose and 22 fell today. Notably, NOV declined 6.37% to USD 19.24 with a typical hold time of 20 days, while HP gained 5.67% to USD 41.95 with a 14-day hold time. WHD dropped 5.46% to USD 61.98 but saw 100% buy order activity and a short 7-day hold time.

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