Oil Breaks the Trend. Forecast as of 04.10.2024

Until October, sellers dominated the oil market amid a slowing global economy and rising production outside OPEC+. However, the escalation of conflict in the Middle East has changed the game rules. Let’s talk about it and make a trading plan for Brent.Highlights and key points Growing geopolitical risks pushed Brent above $78 per barrel. Israeli strike on Iranian oil infrastructure will drive prices higher. Symbolic retaliation will bring bears back to the market. Brent may rise to $87 or