Commodities
Brent Crude Hits Key Resistance Level Amid Ongoing Geopolitical Tensions
The BRICS summit's call for maximum restraint has had little impact on the energy complex, with security concerns and geopolitical risks still dominating the market.
Brent crude is currently testing a key resistance level near $108, which could have significant implications for the oil price if broken.
Escalation and reversal risks are high in play as the unresolved US, Iran situation and Strait of Hormuz transit risks remain a major concern.