Brent Oil Analysis – 16.Jul.2026

Brent Oil Analysis: By analyzing the #BrentOil chart on the weekly timeframe, we can see that price continued to follow the expected bullish scenario and successfully reached the projected targets, rallying as high as $87.5.

Currently, Brent Oil is trading around $85. With tensions around the Strait of Hormuz increasing, the market is adding a larger geopolitical risk premium to Oil prices. Any threat to shipping routes, regional energy infrastructure, or crude exports could quickly create fears of supply disruption and push prices even higher.

The nearest demand zones are located around $82 – $84, followed by $78 – $80 and deeper support around $74 – $76. On the upside, the closest supply zone is around $87.5 – $90, followed by stronger resistance between $92 – $95.

If buyers continue defending the current structure, the next upside targets to monitor are $88, followed by $90, $92, and potentially $95.

This weekend’s developments will be very important. Further escalation could support another bullish leg, while any serious ceasefire or de-escalation headline could trigger a sharp corrective move.
(This Post on TradingView)

Author : Arman Shaban
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