Brent Crude Surges Above $90 as US-Iran Tensions Escalate

Oil prices have started the new week on a strong note, with Brent crude and WTI opening higher due to renewed US-Iran military tensions that threaten shipping through the Strait of Hormuz.

Brent crude opened above $90, while WTI tested its technical resistance around the 100-day SMA near $86. The latest rally has been supported by intensifying US sanctions pressure on Iran, declining global inventories, and concerns about refined-product supplies.

The escalation in tensions has raised concerns about the safety of shipping through the Strait of Hormuz, which is a critical energy transportation route. Any disruption to this waterway could have significant consequences for oil prices.

The immediate technical challenge for WTI is now around $86, where the 100-day SMA has previously restricted upside momentum. A sustained break above this level could strengthen the bullish structure and open the way toward higher resistance zones.