Oil prices rallied sharply as escalating tensions in the Middle East lifted risk premiums, with Oil – Brent Crude approaching levels that JPMorgan warns could extend toward $120 if flows through the Strait of Hormuz are materially disrupted. U.S. benchmark Oil – US Crude and Natural Gas also reacted as markets reassessed supply risks amid missile and drone strikes involving Iran, Israel, and U.S. assets.
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Over the past month, Brent has gained about 10.6% and now flashes a 1-day technical signal of Strong Buy, while U.S. crude is up roughly 8.8% with a similar near-term reading of Strong Buy. In contrast, natural gas has dropped about 29.7% in the last month and currently shows a bearish 1-day indication of Strong Sell, underscoring how crude-led geopolitical risk is not yet translating into broader support for gas prices.
Investors can explore more updates, prices, and analysis across global markets at Commodities.