Oil prices extended their rally as escalating tensions between Washington and Tehran undermined hopes for a near-term ceasefire and outweighed recent efforts by U.S. officials to talk down the market. U.S. crude Oil – US Crude and global benchmark Oil – Brent Crude moved sharply higher, with physical benchmarks near $140 per barrel reviving concerns about demand destruction and inflation risks.
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Over the past month, Oil – Brent Crude has climbed about 35.27%, while Oil – US Crude has surged roughly 48.63%, underscoring the strength of the latest upswing and limited evidence of profit-taking so far. Daily technicals point to a Strong Buy signal for Brent and a Buy signal for WTI, suggesting momentum remains skewed to the upside even as volatility and geopolitical sensitivity stay elevated.
Investors can explore more updates, prices, and analysis across global markets at Commodities.