Brent Oil Breaks $104 Support, Targets $97.36

Brent crude fell below the $104 level earlier today, snapping a key support area that had held since the start of the month. With the price now hovering near $97.36, traders are eyeing that level as the next potential resistance point. Analysts suggest that if the downtrend persists, a further decline could be on the horizon, especially as market sentiment remains cautious amid ongoing supply concerns and geopolitical tensions in the Middle East. The move highlights the importance of monitoring the 50‑day moving average and the 200‑day trend line for any signs of reversal.