Commodities
Brent Crude Oil Hits Defining Resistance Near $108 Amid US-Iran Tensions
The BRICS summit's call for maximum restraint has not alleviated the security premium in the energy complex. The unresolved situation between the US and Iran, as well as transit risks through the Strait of Hormuz, remain a focus.
Brent crude oil is testing a key resistance level near $108. This development comes with potential escalation and reversal risks.
The market is at a critical juncture, uncertain whether it will experience another breakout or reversal. U.S. 10-year yields are also approaching a crucial resistance zone near their 2007 highs.