Brent Oil Prices Stable Amid Positive Sentiment
Brent oil prices moved steadily this morning in the range of US$66.8–66.9 per barrel, supported by news of the extension of the tariff break between the United States and China. This move raised hopes for increased global trade activity and boosted positive sentiment in the energy market.
Another fundamental factor supporting prices is concerns about tight global diesel supplies due to high demand and limited supply, despite OPEC+ increasing production. However, market participants remain cautious ahead of the meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska on August 15, which could potentially impact the flow of Russian oil supplies to the international market.
The Brent oil price at the time of writing was at $66.83/Try Once.
- Buy if the price moves to around $66.93
- Sell if the price moves around $66.73
Resistance 2: $67.20
Resistance 1: $67.04
Support 1: $66.61
Support 2: $66.43
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.