Brent Oil eases to levels near $96.00 after Israel and Lebanon ceasefire agreement

💡 DMK Insight

Brent crude’s drop from $98 to around $96 is a signal for traders to reassess their positions. This reversal comes amid ongoing geopolitical tensions and fluctuating demand forecasts, which could lead to increased volatility. Traders should be wary of potential support levels around $95, as a breach could trigger further selling pressure. On the flip side, if prices stabilize above this level, it might present a buying opportunity for those looking to capitalize on a rebound. Keep an eye on inventory reports and OPEC+ announcements, as these could sway market sentiment significantly in the coming days. The immediate focus should be on how Brent interacts with these key levels over the next week, especially as traders digest economic data releases that could impact oil demand forecasts.