Brent Rises as Market Tests Normalization of Tanker Flows and Hormuz Risk
Brent strengthened as the supply risk premium rose again amid uncertainty over the Iran conflict and the security of shipping lanes, especially if tanker flows have not yet returned to normal. When the market assesses the possibility of prolonged export disruptions from the Gulf, Brent tends to find support as market participants pay for risk insurance in the price, albeit only through changes in expectations rather than fully confirmed physical disruptions. On the policy front, the discourse on releasing strategic reserves (IEA/G7) may hold back the rally, but the effect is often seen as temporary when the main constraints are logistics and security, not simply stock availability. (alg)
Oil price at the time of this analysis was $97.80
- Buy if the price moves below $98.05
- Sell if the price moves below $97.33
Resistance 2: $99.02
Resistance 1: $98.30
Support 1: $96.86
Support 2: $96.14
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider the influence of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id