Brent Crude Stable at $104 Amid Drone Strike Uncertainty

Brent crude prices have stabilized near $104 as traders wait for news on the impact of drone strikes on Saudi oil production.

The attacks, which disrupted production and removed a key pipeline route for crude exports, have raised immediate concerns over global supply.

Despite geopolitical risks increasing near the Strait of Hormuz, affecting Brent crude logistics and raising the supply premium, technical indicators suggest ongoing positive momentum for XBR/USD.

The price remains above its moving averages, indicating a stable to positive short-term structure, with a 70% probability of an upward move in the next few sessions.