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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

30 April 2026 16:55  |

Brent Corrects, Supply Risks Remain Pressured

Brent is currently correcting after a previous sharp rally, as market participants begin to take profits at high prices. However, corrective pressure is still limited because key fundamentals remain strong: supply risks from the Middle East remain substantial, especially after US-Iran tensions and disruptions to the Hormuz gas pipeline raised market concerns about global supply disruptions.

Brent briefly broke through a four-year high above US$120 per barrel. From a fundamental perspective, this correction appears to be a short-term technical adjustment, not a major trend change. (gn)

Oil prices at the time of this analysis were released were: $110.77

- Buy if the price moves below $111.98

- Sell if the price moves below $110.03

 

Resistance 2: $115.14

Resistance 1: $113.19

 

Support 1: $109.29

Support 2: $107.34

Note: This article is analytical in nature and is not a definitive reference. Please consider the influence of fundamental and technical developments on trading before making any investment decisions.

Source: Newsmaker.id

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