As of this week, Brent crude oil has surged to its highest level since July last year, testing 85 dollars per barrel amid escalating Middle East tensions. The move reflects a decisive shift in market structure as supply disruption fears intensify and volatility spills into broader risk assets. In energy markets, such breakouts often mark more than price spikes because they reshape positioning, hedging behaviour and technical bias. Brent crude oil is now acting as the central driver of cross asset repricing, with traders increasingly focused on whether the rally can extend toward triple digit territory.
Fawad Razaqzada, StoneX Market Analyst, has tracked commodity price cycles and technical breakouts across multiple volatility regimes. His work focuses on the intersection of geopolitics, macro policy expectations and chart structure, giving him a distinct vantage point on how Brent crude oil price action transmits into inflation and rate expectations.
Key Themes from the Discussion
Brent crude oil has surged around 15 percent this week, testing 85 dollars per barrel for the first time since July last year.
The 85 dollar level represents a key psychological hurdle where profit taking could emerge despite a bullish technical bias.
Support levels at 82.15, 80.00 and 76.70 now define whether the Brent crude oil breakout holds or shifts into a deeper pullback.
Brent crude oil has confirmed a bullish technical breakout following a sharp weekly surge of roughly 15 percent. As Fawad Razaqzada notes, "Brent Crude has surged around 15% this week, testing the $85 per barrel level today", underscoring the strength and speed of the move. This breakout shifts short term market structure firmly to the upside, as prior resistance now transforms into potential support. Consequently, traders are increasingly factoring in scenarios where Brent crude oil extends toward higher psychological thresholds if geopolitical risk remains elevated.
Brent Support Levels Now Define Pullback Risk
Brent crude oil’s sustainability now hinges on clearly defined support zones that frame downside risk. Razaqzada identifies "the first level of support to watch now comes in around $82.15", followed by the key psychological level at 80.00 and what he describes as "the key line in the sand" at $76.70. These levels provide a structured roadmap for traders assessing whether the rally is consolidating or reversing. A decisive break beneath $76.70 would alter the short term technical landscape, potentially signalling that Brent crude oil momentum is transitioning from breakout to correction.
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