Brent Crude Holds Firm at $87.76 Amid Ongoing Strait of Hormuz Disruptions

Brent crude has maintained its position above $87 as disruptions in oil tanker movements through the Strait of Hormuz continue due to heightened geopolitical tensions in the Middle East. Supply interruptions from this key shipping route have supported Brent crude prices by limiting global oil flows.

The current price of Brent crude is $87.76, with a bullish bias and immediate support at $86.87. The expected price range for the next several sessions is $85.91 to $89.61, capturing typical volatility around current levels.

Multiple oscillators indicate overbought conditions, but the RSI stands at 59.13, and both the MACD and Awesome Oscillator favor further upside. Analysts have noted that Brent crude was exhibiting strong momentum but faced the risk of short-term exhaustion.