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.
Sign up for the latest Market Outlook Reports
From detailed guides on how to trade major assets to quarterly market outlooks and special reports, we offer FREE access to the articles you need to successfully implement "global macro" style trading!
The subsidiaries of StoneX Group Inc. provide financial products and services, including, but not limited to, physical commodities, securities, clearing, global payments, risk management, asset management, foreign exchange, and exchange-traded and over-the-counter derivatives. These financial products and services are offered in accordance with the applicable laws in the jurisdictions in which they are provided and are subject to specific terms, conditions, and restrictions contained in the terms of business applicable to each such offering. Not all products and services are available in all countries. The products and services offered by the StoneX Group of companies involve risk of loss and may not be suitable for all investors. Full Disclaimer. This content is not intended for residents of any particular country, and the information herein is not advice nor a recommendation to trade nor does it constitute an offer or solicitation to buy or sell any financial product or service, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. Please refer to the Regulatory Disclosure section for entity-specific disclosures. No part of this material may be copied, photocopied or duplicated in any form by any means or redistributed without the prior written consent of StoneX Group Inc. The information herein is provided for informational purposes only. This information is provided on an ‘as-is’ basis and may contain statements and opinions of the StoneX Group of companies as well as excerpts and/or information from public sources and third parties and no warranty, whether express or implied, is given as to its completeness or accuracy. Each company within the StoneX Group of companies (on its own behalf and on behalf of its directors, employees and agents) disclaims any and all liability as well as any third-party claim that may arise from the accuracy and/or completeness of the information detailed herein, as well as the use of or reliance on this information by the recipient, any member of its group or any third party.
Our market expertise, advanced platforms, global reach, culture of full transparency and commitment to our clients’ success all set us apart in the financial marketplace.
Reach
With access to 40+ derivatives exchanges, 180+ foreign exchange markets, nearly every global securities marketplace and numerous bi-lateral liquidity venues, StoneX’s digital network and deep relationships can take clients anywhere they want to go.
Transparency
As a publicly traded company meeting the highest standards of regulatory compliance in the markets we serve; our financials and record of accomplishment are matters of public record. StoneX’s commitment to “doing the right thing over the easy thing” sets us apart in the industry and helps us build respect, client trust and new partnerships.
Expertise
From our proprietary Market Intelligence platform, to “boots on the ground” expertise from award-winning traders and professionals, we connect our clients directly to actionable insights they can use to make more informed decisions and achieve their goals in the global markets.
