Brent Oil Price Rises After a Brief Consolidation

Brent crude rose more than 1.5% on Friday, breaking two days of quiet trading.

The move came after the US-Iran conflict escalated, cutting flows through the Hormuz strait. Iran warned it could close Red Sea access if the US attacks its power sites, raising supply fears.

The price remains in a congestion zone, with resistance at $87.37, the 38.2% retracement of the move from $115.26 to $70.13. A close above that level would open the path toward $90, the next psychological barrier, and then $92.69.

Support is at $83.32, the recent range floor. The daily chart shows positive momentum, with the 10-day moving average crossing above the 20-day and 200-day averages, reinforcing the bullish structure.