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Commodities

Brent Crude Soars as US-Iran Tensions Fuel Supply Disruption Fears

Guavy AI Editorial Team
Instruments
Oil
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The price of Brent crude (XBR) has been on an upward trend, reaching $90.32 after a 1.09% increase in a single day.

This uptick is largely due to growing concerns over the potential disruption to oil supply routes following heightened US-Iran tensions near the Strait of Hormuz.

The current technical setup suggests that Brent crude is maintaining a bullish structure, with price action above key support at $88.97 and strong momentum indicators such as MACD and ADX showing Buy signals.

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