🚨 Crude Oil Alert: Geopolitical Risk Spikes
🛢️ Brent crude has surged over the last few hours, jumping nearly 5% to $96/bbl, after rebounding sharply from Friday’s plunge to $86/bbl
🌍 The move is driven by a sudden escalation in West Asia tensions, centred around the Strait of Hormuz
⚡ Trigger:
🇺🇸 U.S. Navy seizes an Iranian-flagged cargo vessel
🇮🇷 Iran calls it “armed maritime piracy”
🚁 Followed by drone attacks on U.S. warships
🚫 Strait of Hormuz now closed
⏳ This escalation comes just ahead of the April 22, 2026 (Tuesday morning IST) ceasefire deadline
🤝 Diplomacy faltering:
🇵🇰 U.S.-Iran talks stalled
❌ Iran reportedly rejects participation
🗣️ U.S. rhetoric hardens:
💬 President Trump warns of aggressive retaliation
🛑 VP JD Vance not leading delegation due to security concerns
📊 Market View:
📰 Until the deadline, crude remains purely headline-driven
⚡ Expect sharp intraday volatility
📍 Key Levels:
🟢 Support: $90/bbl
🔴 Resistance: $100/bbl, $104/bbl
