Brent Crude Oil Price Remains Steady Amid US-Iran Sanctions
The price of Brent crude oil remained steady at $86.36 after the US announced new economic sanctions on Iran, sparking expectations of limited immediate impact on supply.
Market participants interpreted the shift toward economic measures as less likely to disrupt near-term oil flows, keeping volatility subdued.
Brent crude trades below key short- and medium-term technical levels with a 77% probability of a move to the $82.73 to $89.99 range, reflecting dominant bearish signals.
The sanctions on Iran eased supply fears and steadied sentiment, as expanded measures were viewed as having limited direct impact on immediate physical flows.
Technically, XBR is trading below the MA-20 at $89.7 and the MA-50 at $89.5, with the daily MA-200 at $86.36 acting as immediate support.