Tankers Still Get Hit but Brent Crude Oil Keeps Falling
Brent crude oil has turned bearish after breaking its uptrend, as de-escalation signals outweigh tanker strikes near the Strait of Hormuz.
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Brent crude oil has turned bearish after breaking its uptrend, as de-escalation signals outweigh tanker strikes near the Strait of Hormuz.
Razan Hilal, StoneX Media Market Analyst, breaks down the Brent crude oil, WTI crude oil and XLE energy ETF charts behind the shift in energy markets. Recent comments from President Trump and the prospect of a deal between the U.S. and Iran sit behind the broader de-escalation narrative weighing on crude prices.
Brent crude oil and WTI crude oil both show signs of a potential double top pattern after breaking below uptrend support that held since the summer. The XLE energy ETF has dropped back below an 18-year resistance line, pointing to a possible longer-term bearish shift across the energy sector. Persistent strikes on tankers around the Strait of Hormuz keep short-term rebound risk alive within that broader bearish picture.
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