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Commodities

Brent Crude Tumbles Amid Escalating US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Brent crude oil prices have taken a hit, dropping by 3.65% to $101.69 per barrel.

This decline comes as US-Iran tensions escalate, with increased strikes on oil tankers and threats to shipping through the Strait of Hormuz.

Despite this downturn, Brent crude remains above its key moving averages across both H4 and daily timeframes.

The technical analysis suggests a broadly bullish trend for Brent crude, with expected consolidation between $96.43 and $106.95 over the next 2 to 3 trading days.

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