With the latest U.S.-Iran conflict ongoing, U.S. crude oil rose above $95, while Brent crude held steady above $100.
A senior official from the Islamic Republic of Iran stated that Iran is prepared for a more intense war, warning it would escalate its response if the United States continues attacking its territory and infrastructure.
An unnamed official said Tehran has no intention of backing down in the face of U.S. naval blockades and attacks on Iranian tankers. While economic hardship may be intensifying, Iranian leaders view the war with the U.S. as an existential threat, leaving them no choice but to continue fighting.
On Wednesday, President Donald Trump downplayed concerns over rising oil prices, claiming the war would end within weeks. He insisted Iran was incapable of sustaining the conflict, telling reporters: “I think the war will end immediately after the election because they can’t hold out any longer.”
However, The Wall Street Journal reported that senior U.S. officials, including Vice President JD Vance and Secretary of State Marco Rubio, have raised the possibility that Iran might not yield under increasing pressure, and the conflict could persist until the end of Trump’s term in January 2029.
The escalating attacks by both sides have driven up energy prices, with Brent crude surpassing $100 per barrel on Wednesday, marking a year-to-date increase of about 65%. U.S. diesel retail prices hit a record high last week, further intensifying pressure on Trump to end this unpopular conflict before the November 3 midterm elections.
Tonight, the U.S. will release August PPI data, with markets currently expecting a sharp rebound to 5.3% for the headline PPI and a notable recovery to 4.6% for core PPI.
Plugin Case Demonstration
Gold: Yesterday, our blue plugin signaled a breakout above 4415 followed by a pullback entry, successfully capturing a move to 4434—excellent performance. For today, maintain the blue plus yellow configuration, awaiting confirmation after the PPI data release.
(Gold 15-minute chart)
Nasdaq: After breaking below the yellow zone last night, prices reversed sharply in a V-shape, rallying toward 29,600. This movement perfectly aligned with our plugin signals. Continue holding the blue momentum breakout combined with the yellow liquidity sweep rebound strategy.
(Nasdaq 15-minute chart)
Crude Oil: Prices have entered the 95–100 range, having previously faced what appeared to be intervention-driven suppression. We do not recommend further bullish positions; instead, remain cautious or consider selling on a pullback once prices break below 94.25.
(Crude Oil 15-minute chart)
Key Financial Data and Events Today:
20:30 U.S. Initial Jobless Claims
20:30 U.S. August PPI
