Crude Oil Prices Face Critical Test Amid Escalating Regional Tensions

Crude oil prices are facing major resistance as Houthi attacks on Saudi Arabia and tensions between the US and Iran continue to threaten regional energy infrastructure.

The key resistance levels for Brent (UKOIL) are at $108, a 7-month trendline that has acted as support in the past, combined with the 78.6% Fibonacci retracement of the March-July decline.

Risks of another regional escalation remain elevated, particularly after new travel warnings and security alerts across the Middle East.