Brent Crude: War-Related Range-Bound Trading Outlook – BBH

Brent crude is currently priced at $91.27. Brown Brothers Harriman analyst Elias Haddad notes that as the U.S.-Iran standoff in the Strait of Hormuz persists, oil prices are driven by war narratives and are currently exhibiting a range-bound pattern. Haddad expects subsequent price movements to be mutually influenced by the risk of geopolitical conflict escalation.