Hormuz Shipping Prospects Bolster Brent Crude, Geopolitics Remains Uncertain

Brent crude oil prices held steady at $87.12, maintaining their position above key moving averages as shipping prospects through the Strait of Hormuz improved.

According to Fxstreet, strengthened diplomatic efforts involving Iran and Oman have eased concerns over potential supply disruptions, supporting a more neutral supply outlook.

However, the U.S. decision to expand sanctions on Iranian entities and President Trump's pledge for additional economic pressure underscore persistent geopolitical uncertainty that could temper these positive signals.