On Friday (June 12th) during the Asian trading session, crude oil prices traded around $86.70 per barrel. The previous trading day saw a single-day drop of over 5.5%, primarily due to positive signals from US President Trump suggesting a possible peace agreement between the US and Iran in the near future, which quickly reduced market concerns about a long-term impact on Middle Eastern energy supplies.

Furthermore, even if a peace agreement is ultimately reached, it will still take time for global energy supplies to return to normal levels. Market analysts believe that the restoration of shipping safety in the Strait of Hormuz still requires a thorough risk assessment of the area, including clearing potential maritime obstacles, restoring operations at affected oil and gas facilities, and repairing infrastructure damage caused by previous drone and missile attacks. Therefore, the global energy logistics system may still face periodic disruptions in the short term.

From a daily chart perspective, crude oil experienced a rapid pullback after its previous surge driven by escalating tensions in the Middle East. Prices broke below key uptrend support, indicating a renewed shift in market dominance to the bears in the short term. Currently, prices are finding support around the $85 area, but the overall trend remains weak.

Crude oil's short-term (1-hour) price action has seen another sharp decline, with the short-term objective trend pointing downwards. In the early morning, oil prices were in a downtrend, experiencing a weak rebound from the $85 low. Bearish momentum is strong. It is expected that crude oil will likely continue its downward trend throughout the day. Today's strategy: Short at $87.00, stop loss at $90.00, target $83.00.

Disclaimer: The article is contributed by the market analyst from Binkex market observation team. The content is solely for personal opinions and sharing. The analysis is time-sensitive and provided for reference and discussion only. It does not constitute any investment advice. The market is risky, so investing should be done cautiously.