#BrentRisesAbove Main catalyst: renewed U.S.–Iran military escalation near the Strait of Hormuz, raising fears of further disruption to oil shipments. Shipping activity through the strait has also fallen sharply.
Key levels:
🟢 $90 — important psychological support after the breakout
🟢 $92–93 — next upside zone
🔥 $95 — major target if geopolitical risk escalates
🔴 Below $90 — would weaken the breakout
⚠️ Reuters notes a possible $85–95 range unless there is greater clarity around Hormuz.
Market impact: Higher crude can increase inflation pressure, which may keep central banks more hawkish and put pressure on equities.
Bias: 🟢 Bullish above $90, but this is heavily headline-driven, so volatility and sudden reversals are likely