On Monday (April 13th) in Asian trading, US crude oil opened higher, rising by 8%, briefly surpassing $105.50 per barrel, and is currently trading around $104.60 per barrel. Latest developments indicate that the negotiations, which lasted approximately 21 hours over the weekend, failed to achieve substantial results, and the situation has clearly deteriorated. US President Trump subsequently stated that he would impose blockade measures on Iranian ports and related shipping lanes. The US Central Command further confirmed that it would officially launch a blockade of all maritime traffic entering and leaving Iranian ports on Monday. This move quickly triggered high market vigilance regarding the stability of the crude oil supply chain.

Meanwhile, market surveys show that the US government is assessing the possibility of further escalation, including resuming limited-scale military strikes. This potential risk further exacerbates market uncertainty, significantly amplifying energy market volatility. Furthermore, the Strait of Hormuz, as one of the world's most critical energy transportation routes, handles approximately 20% of global seaborne crude oil transport; any blockade or disruption could rapidly alter the supply and demand balance.

On the daily chart, US crude oil has re-entered a strong upward channel. The lows formed by the previous pullback are important short-term support levels, currently around $95. Resistance is concentrated at the $112 psychological level and the previous high area. In terms of momentum indicators, the MACD has formed a golden cross again, and the RSI has quickly rebounded to high levels, indicating significantly strengthened bullish momentum, but also suggesting some overbought risk in the short term.

From the 4-hour chart, oil prices have maintained a high-level consolidation structure after a gap up, with a short-term bullish trend. If the price effectively breaks through and holds above $112, it may open up further upside potential, testing the $119 area; conversely, if it pulls back and falls below $95, it may enter a technical correction phase, filling some of the gap. Overall, short-term price movements remain highly dependent on geopolitical developments. Today: Buy at 100.00, stop loss: 95.50, target 106.00.

Disclaimer: The article is contributed by the market analyst from Bitop 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.