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      Crude Oil Prices Fluctuate Amid Middle East Tensions

      Crude oil prices experienced volatility on October 5, 2026, with trading influenced by technical levels and geopolitical tensions in the Middle East. The day began with prices testing the 200-hour moving average near $91.85, where sellers emerged, leading to a decline that saw prices dip below $90. However, buying interest returned as prices approached a swing area low target, with a notable low of $89.11, while key support remained intact at $88.72.

      The fluctuations in crude oil prices were further exacerbated by reports of a fire at a Saudi Aramco facility, which Yemen’s Houthis attributed to missile and drone attacks. Although Saudi authorities and Aramco have not confirmed the cause of the fire, the situation has raised concerns about potential supply disruptions, contributing to the bullish sentiment in the market.

      Currently, crude oil is trading between the 100-hour moving average at $90.77 and the 200-hour moving average at $91.85. A sustained move above $91.85 could shift market sentiment further towards the upside, with resistance levels identified between $92.29 and $93.48. Conversely, if prices fall below the 100-hour moving average, it could signal a return to bearish control, with the $89.11 low and $88.72 support levels coming back into focus.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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