Brent crude is back above $100 for the first time since July, clearing a key psychological level. WTI is closing in on the same mark.
๐ Oil is up more than 10% over the past month. Behind the rally: escalating tensions in the Middle East. Traffic through the Strait of Hormuz has fallen to multi-year lows, and alternative supply routes are under threat.
The US Strategic Petroleum Reserve is at its lowest level since 1982. Goldman Sachs sees Brent at $120 if the conflict drags on.
๐ฐ Moves are sharp in both directions. Perpetuals on Brent and WTI are available in Wallet 24/7 from $1.
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