Iran Tensions Send Brent Crude Prices Flat Amid Supply Risks

Brent crude prices are experiencing a flat day, trading at $91.77 per barrel. Despite marginal gains, the price remains below its key short-term moving averages while maintaining position above broader trend levels.

The escalating geopolitical tensions involving Iran are raising supply risks for oil shipments through the Strait of Hormuz, a vital global oil corridor. Persistent uncertainty around supply disruptions and inflationary pressures is increasing caution in oil and commodity markets.

Brent trades in a medium- and long-term bullish structure with a projected range of $90.35 to $93.19 and mostly positive momentum signals. However, ongoing concerns about market stability and inflationary pressures are adding to the cautious tone in trading.