👀 Possible scenario:
Oil prices eased on June 18, with Brent trading near $75.15 per barrel, as traders awaited the U.S. Fed’s rate decision and monitored Iran-Israel tensions.
The Feed is expected to hold rates steady, but concerns over slowing global growth and Middle East instability could influence future cuts. Analysts warn that conflict-driven price spikes may fuel inflation, complicating policy moves. Markets are also watching the Strait of Hormuz, a key route for 20% of global oil. While a full Iranian export hell could be offset by OPEC+ spare capacity, a blockade would severely disrupt flows, especially to Asia. Despite risks, Commerzbank noted the market remains well supplied, with slow demand growth and rising OPEN+ output. However, ongoing trade disputes may weigh on future demand.
✅ Support and Resistance Levels
Now, the support level is located at 65.95.
Resistance levels are now located at 76.55 .
Oil prices eased on June 18, with Brent trading near $75.15 per barrel, as traders awaited the U.S. Fed’s rate decision and monitored Iran-Israel tensions.
The Feed is expected to hold rates steady, but concerns over slowing global growth and Middle East instability could influence future cuts. Analysts warn that conflict-driven price spikes may fuel inflation, complicating policy moves. Markets are also watching the Strait of Hormuz, a key route for 20% of global oil. While a full Iranian export hell could be offset by OPEC+ spare capacity, a blockade would severely disrupt flows, especially to Asia. Despite risks, Commerzbank noted the market remains well supplied, with slow demand growth and rising OPEN+ output. However, ongoing trade disputes may weigh on future demand.
✅ Support and Resistance Levels
Now, the support level is located at 65.95.
Resistance levels are now located at 76.55 .
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.