Brent Crude Breaks Resistance, Eyes New Rising Trend

Natural gas and oil prices have rallied in recent days due to increased supply risks at the Hormuz Strait, a critical shipping lane for crude exports.

The Brent price has rebounded above its previous support level of $96.95, indicating that this level is now acting as resistance, according to FXEmpire's analysis.

A break above the next area of interest at $99.41 would confirm a new rising trend, with potential targets at $101.96 and $104.00.