Heightened tensions between the United States, Israel, and Iran following coordinated strikes on Iranian leadership have intensified concern over supply risks in the Gulf, a key producing region for Oil – Brent Crude. Market participants are evaluating the potential for disruption to shipping lanes and regional output, which could reinforce the geopolitical risk premium embedded in crude benchmarks.
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Over the past month, Brent prices have advanced about 6.69%, reflecting both escalating geopolitical strains and expectations for tighter supply-demand balances. The 1-day technical picture currently points to a Strong Buy signal, suggesting short-term momentum remains skewed to the upside as traders price in the risk of further instability.