

Brent Oil Rebounds Above $95 as Iran Tensions Raise Supply Fears

Key Takeaways -Brent crude rebounded above $95 per barrel on Friday after falling below $90 earlier this week. -US President Donald Trump’s comments on Iran raised concerns that the conflict could remain unresolved, keeping regional supply risks in focus. -The Strait of Hormuz remains a major supply concern, as potential shipping disruptions could tighten global oil availability. -OPEC+ production moved closer to pre-war levels in October, while higher US oil inventories could limit further price gains. -Traders are monitoring $98.00–$98.40 as immediate resistance, with $100 as the next major upside threshold. Brent crude recovered above $95 per barrel on Friday after falling below $90 earlier in the week. The rebound followed comments from US President Donald Trump indicating that Washington did not need a deal with Iran, raising concerns that the conflict could remain unresolved. The remarks renewed market attention on potential disruptions to Middle East oil supplies, particularly through the Strait of Hormuz. Any disruption to shipping activity along this strategic route could restrict global crude availability and add upward pressure on prices. Why Traders Are Watching Brent Crude The immediate focus is whether geopolitical supply risks will continue to outweigh signs of improving global production. While uncertainty surrounding Iran could keep oil prices supported, recovering OPEC+ output and higher US inventories may limit further gains. OPEC+ oil production in October moved closer to its pre-war levels, led by higher output from Saudi Arabia. A continued recovery in production could gradually improve global supply availability and ease some of the tightness in the market. Meanwhile, the Strait of Hormuz remains a key risk for energy markets. Any escalation that affects tanker movements through the waterway could disrupt crude shipments and increase concerns over supply shortages. Key factors influencing Brent crude's outlook include: -Middle East Developments: Whether tensions involving Iran escalate or diplomatic progress helps ease concerns over regional oil supplies. -Strait of Hormuz Shipping Activity: Whether disruptions to tanker movements affect the flow of crude through this strategic route. -OPEC+ Production: Whether recovering output, particularly from Saudi Arabia, adds enough supply to offset geopolitical risks. -US Oil Inventories: Whether inventory changes point to tighter supply conditions or greater availability in the market. -Inflation and Interest Rate Expectations: Whether sustained higher oil prices add to inflationary pressure and influence central bank policy decisions. Key Trading Levels UKOUSD is trading around $97.84 after recovering from approximately $94. Prices advanced towards the recent swing high of $98.40 before pulling back, with the latest candles showing a modest rebound around $97.80. The immediate resistance zone sits between $98.00 and $98.40. A sustained break above this range could strengthen buying momentum and bring $99.00 into focus. On the downside, $97.15 marks the nearest support. A break below this level could expose $96.00, followed by the previous consolidation area near $94.00. Bottom Line Brent crude's next move may depend on whether Middle East supply concerns continue to outweigh recovering production and inventory levels. An escalation in tensions or disruptions through the Strait of Hormuz could support prices towards the $100 level, while easing geopolitical risks and improving supply conditions could limit further gains. For a closer look at oil market developments and the factors influencing crude prices, read the full article in the "learn more" button below.

Learn more

Publication date:

2026-11-13 08:32:34 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.