Oil extended its sharp rally on Friday as escalating geopolitical risks in the Middle East and disruptions near the Strait of Hormuz tightened supply expectations, pushing global benchmarks toward the $90 threshold. International marker Oil – Brent Crude traded above $88 per barrel and U.S. benchmark Oil – US Crude hovered around $85.90, as traders priced in heightened shipping and production risk across key regional routes.
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Over the past month, Oil – US Crude has advanced about 26.1%, while Oil – Brent Crude has risen roughly 24.3%, reinforcing a strong short-term uptrend built on tightening supply narratives and rising risk premiums. For the latest session, technical models on both benchmarks indicate a short-term Buy stance for Oil – US Crude and a similar Buy signal for Oil – Brent Crude, suggesting momentum remains skewed to the upside despite rising volatility.
Investors can explore more updates, prices, and analysis across global markets at Commodities.