Brent Oil Poised for Surge Above $100 as Middle East Volatility Continues

Brent crude oil is consolidating near key resistance at around $95.50, and a breakout above this level could signal renewed upside momentum in the market.

Michael J Kramer, founder of Mott Capital Management, notes that Brent has been trending higher after breaking out of a bull flag pattern in mid-August.

The price action suggests that Brent may be poised to move sharply higher due to volatile conditions in the Middle East and a potential bullish continuation pattern.

According to Kramer, a move above $95.50 would clear the downtrend and allow Brent to move beyond its previous lower high from August 21st.