BRNUSD

Brent crude oil prices start the day on an upward trend, drawing attention despite the rising tensions between Israel and Lebanon and the U.S. Energy Information Administration's report of an inventory increase. Particularly, Israel's attacks on Lebanon heighten geopolitical risks in the Middle East, exerting upward pressure on oil prices. Economic data such as durable goods orders and Michigan consumer sentiment in the U.S. are also monitored for their impact on the market. It should be noted that the trend of European and U.S. stocks could influence intraday price movements.

Technically, Brent crude oil prices are moving near the 74.00 support level on the 4-hour chart. In upward movements, the levels of 75.00 and 75.50 can be monitored as resistance. In possible pullbacks, the levels of 74.00 and 73.50 gain importance as support. The RSI indicator is at 42, presenting a negative outlook, indicating that the selling pressure could continue for a while. There is a decrease of -0.113% compared to the previous day, which maintains the weak course of the prices.