WTI Broke Its March Ceiling and Brent Could Not Follow
WTI crude oil broke above a declining resistance line that had capped every rally since March 2026, and Brent did not follow.
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WTI crude oil broke above a declining resistance line that had capped every rally since March 2026, and Brent did not follow. Razan Hilal, StoneX Media Market Analyst, walks through what that break changes for crude oil supply risk and where the market is testing next.
Strikes on Russian oil refineries, tensions between the United States and Iran, and risk around the Strait of Hormuz have moved the crude oil market from the oversupply concerns of early 2026 to persistent tightening conditions. The Strategic Petroleum Reserve is holding near levels last seen roughly 44 years ago. Brent crude tells a different story, stalling at the neckline of the double top that triggered the June 2026 selloff.
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