Brent Strengthens, Supply Risks Increase
Brent Crude Oil prices are currently rising, driven by escalating geopolitical tensions, particularly the conflict between the United States and Iran, which shows no signs of abating. Market concerns about potential supply disruptions from the Middle East, particularly in vital waterways like the Strait of Hormuz, have led market participants to engage in hedging.
Furthermore, the ongoing blockade of Iranian exports has raised global supply expectations, pushing oil prices to their highest levels in recent years. (gn)
Oil prices at the time of this analysis were released were: $102.27
- Buy if the price moves below $107.84
- Sell if the price moves below $107.40
Resistance 2: $108.48
Resistance 1: $108.04
Support 1: $107.16
Support 2: $106.72
Note: This article is analytical in nature and does not constitute a definitive reference. Please consider the influence of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id