{"id":60281,"date":"2026-08-20T10:08:44","date_gmt":"2026-08-20T10:08:44","guid":{"rendered":"https:\/\/www.vtmarkets.com\/en-ca\/uncategorized\/brent-crude-oil-holds-near-92-as-hormuz-uncertainty-persists\/"},"modified":"2026-08-20T10:08:44","modified_gmt":"2026-08-20T10:08:44","slug":"brent-crude-oil-holds-near-92-as-hormuz-uncertainty-persists","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/brent-crude-oil-holds-near-92-as-hormuz-uncertainty-persists\/","title":{"rendered":"Brent Crude Oil Holds Near $92 as Hormuz Uncertainty Persists"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2026\/07\/oil.webp\" alt=\"Brent Crude Oil Holds Near $92 as Hormuz Uncertainty Persists\" class=\"wp-image-62254\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Brent crude held around the <strong>$92-per-barrel area<\/strong> on Thursday following a four-session advance.<\/li>\n\n\n\n<li>The main market driver remains the <strong>US-Iran standoff and uncertainty over shipping through the Strait of Hormuz<\/strong>.<\/li>\n\n\n\n<li>The UAE&#8217;s decision to suspend economic and financial dealings with Iran has added to regional tensions, although Gulf producers continue to move some crude through alternative routes.<\/li>\n\n\n\n<li>The <strong>$92 area is the clearest near-term upside reference.<\/strong><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Brent crude held firm near $92 a barrel on Thursday<\/strong> as traders weighed Middle East supply risks and the unresolved Strait of Hormuz situation.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Oil prices rise for fourth straight session, with Brent nearing $92 barrel as conflicting US-Iran claims over Strait of Hormuz and continued risks to shipping fuel market uncertainty. Here&#39;s more \ud83d\udc47 <a href=\"https:\/\/t.co\/QhR9DYqo75\">pic.twitter.com\/QhR9DYqo75<\/a><\/p>&mdash; TRT World Now (@TRTWorldNow) <a href=\"https:\/\/x.com\/TRTWorldNow\/status\/2089993269098971494?ref_src=twsrc%5Etfw\">August 19, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The move extends four straight sessions of gains after prices briefly topped $92 on Wednesday amid renewed regional tensions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Geopolitics remain the main driver, though signs that producers are sustaining some exports via alternative routes and less visible shipments have so far limited the impact on global crude flows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why Traders Are Watching<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Strait of Hormuz remains pivotal to Brent pricing, handling roughly 20% of global oil flows. Geopolitical risk premiums persist following the UAE&#8217;s suspension of economic ties with Iran over alleged missile strikes, while conflicting reports on Hormuz transit conditions continue to cloud the supply outlook.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Yet, underlying fundamentals are capping gains. Last week\u2019s EIA data revealed a 4.4-million-barrel US crude inventory build, though elevated refinery runs and a 1.5-million-barrel distillate draw softened the impact.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">U.S. crude inventories jumped 4.4 million barrels last week to 428.8 million, roughly in line with the five-year average. But distillate stocks fell another 1.5 million barrels and remain 13% below normal. <a href=\"https:\/\/x.com\/hashtag\/Oil?src=hash&amp;ref_src=twsrc%5Etfw\">#Oil<\/a> <a href=\"https:\/\/x.com\/hashtag\/EIA?src=hash&amp;ref_src=twsrc%5Etfw\">#EIA<\/a> <a href=\"https:\/\/x.com\/hashtag\/Diesel?src=hash&amp;ref_src=twsrc%5Etfw\">#Diesel<\/a> <a href=\"https:\/\/t.co\/hXZEtvR6VH\">https:\/\/t.co\/hXZEtvR6VH<\/a><\/p>&mdash; OilPrice.com (@OilandEnergy) <a href=\"https:\/\/x.com\/OilandEnergy\/status\/2090088061967155650?ref_src=twsrc%5Etfw\">August 19, 2026<\/a><\/blockquote><script async src=\"https:\/\/platform.x.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">This leaves UKOUSD in a tug-of-war: geopolitical supply fears provide a price floor, but swelling US crude stocks and alternative Gulf exports limits further upside unless Middle East tensions escalate materially.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Key Trading Levels<\/h2>\n\n\n\n<!-- TradingView Widget BEGIN --><div class=\"tradingview-widget-container\">  <div class=\"tradingview-widget-container__widget\"><\/div>  <div class=\"tradingview-widget-copyright\"><a href=\"https:\/\/www.tradingview.com\/symbols\/UKOIL\/?exchange=TVC\" rel=\"noopener nofollow\" target=\"_blank\"><span class=\"blue-text\">UKOIL chart<\/span><\/a><span class=\"trademark\"> by TradingView<\/span><\/div>  <script type=\"text\/javascript\" src=\"https:\/\/s3.tradingview.com\/external-embedding\/embed-widget-advanced-chart.js\" async>  {  \"allow_symbol_change\": true,  \"calendar\": false,  \"details\": false,  \"hide_side_toolbar\": true,  \"hide_top_toolbar\": false,  \"hide_legend\": false,  \"hide_volume\": false,  \"hotlist\": false,  \"interval\": \"D\",  \"locale\": \"en\",  \"save_image\": true,  \"style\": \"1\",  \"symbol\": \"TVC:UKOIL\",  \"theme\": \"dark\",  \"timezone\": \"Etc\/UTC\",  \"backgroundColor\": \"#0F0F0F\",  \"gridColor\": \"rgba(242, 242, 242, 0.2)\",  \"watchlist\": [],  \"withdateranges\": false,  \"compareSymbols\": [],  \"support_host\": \"https:\/\/www.tradingview.com\",  \"studies\": [],  \"width\": 900,  \"height\": 500}  <\/script><\/div><!-- TradingView Widget END -->\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Price Level<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>What Traders Are Watching<\/strong><\/td><\/tr><tr><td>92.7<\/td><td>Recent intraday high and immediate resistance area<\/td><\/tr><tr><td>92.5<\/td><td>Short-term resistance after the latest pullback<\/td><\/tr><tr><td>92.3<\/td><td>Current trading area and near-term price reference<\/td><\/tr><tr><td>92.1<\/td><td>Recent intraday low and initial support level<\/td><\/tr><tr><td>91.85<\/td><td>Key support zone if selling pressure returns<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">UKOUSD is trading around the <strong>92.30 area<\/strong> after recovering from the recent low near <strong>92.10<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A move above <strong>92.50<\/strong> could indicate renewed buying momentum and bring the <strong>92.70 resistance area<\/strong> back into focus.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the downside, a break below <strong>92.10<\/strong> could signal weakening momentum, with the <strong>91.85 support area<\/strong> becoming the next level to monitor.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bullish and Bearish Setups<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2026\/08\/ukousd208-1024x473.webp\" alt=\"Brent Crude Oil Holds Near $92 as Hormuz Uncertainty Persists\" class=\"wp-image-65654\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Setup<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Trigger<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Potential Market Reaction<\/strong><\/td><\/tr><tr><td>Recovery Attempt<\/td><td>Hold above 92.30<\/td><td>UKOUSD may retest the 92.50 resistance area<\/td><\/tr><tr><td>Bullish Breakout<\/td><td>Break above 92.70<\/td><td>Momentum could strengthen towards higher levels<\/td><\/tr><tr><td>Range Consolidation<\/td><td>Hold between 92.10 and 92.70<\/td><td>Oil may remain range-bound as traders assess direction<\/td><\/tr><tr><td>Bearish Breakdown<\/td><td>Fall below 92.10<\/td><td>Selling pressure could increase towards 91.85<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The bullish setup depends on UKOUSD maintaining support above the <strong>92.30 area<\/strong> and regaining momentum towards <strong>92.50\u201392.70<\/strong>. A sustained break above <strong>92.70<\/strong> could indicate renewed buying interest.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The bearish scenario becomes more relevant if UKOUSD falls below <strong>92.10<\/strong>, which could signal that sellers are regaining control and expose the <strong>91.85 support zone<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Disclaimer<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The price levels and market scenarios above reflect the author\u2019s assessment at the time of writing. They do not represent financial advice or an official recommendation from VT Markets. Energy markets can experience rapid movements due to geopolitical developments, supply changes and macroeconomic factors.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Trade UKOUSD With VT Markets<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">UKOUSD is VT Markets&#8217; Brent Crude Oil Cash CFD. The instrument tracks movements in Brent crude, allowing traders to take a view on changes in the global oil benchmark without owning physical barrels of crude oil.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Brent can react quickly to changes in global supply expectations, geopolitical developments, inventory reports and shipping disruptions, making these factors important when assessing UKOUSD price movements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Traders can use VT Markets&#8217; charting and market-analysis tools to monitor price momentum, support and resistance as the next UKOUSD setup develops.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Start trading <a href=\"https:\/\/www.vtmarkets.com\/energies\/\" target=\"_blank\" rel=\"noopener\" title=\"\">energy CFDs<\/a> with VT Markets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why Trade UKOUSD With VT Markets?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">UKOUSD CFDs provide exposure to Brent crude price movements without requiring physical ownership of oil. This can allow traders to assess either upward or downward market scenarios as oil responds to geopolitical developments, changing supply expectations and energy-market data.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since CFDs involve leverage, both potential gains and losses can be magnified. Risk management therefore remains important when volatility increases around major geopolitical or supply-related events.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">What to Watch Next<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">UKOUSD\u2019s next direction will depend on whether Middle East supply risks continue supporting oil prices or whether stable crude flows limit further upside.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Key factors include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Strait of Hormuz developments:<\/strong> Any changes to shipping conditions and tensions between the US and Iran could influence oil supply concerns.<\/li>\n\n\n\n<li><strong>US-Iran negotiations:<\/strong> Signs of renewed talks or further escalation may affect the geopolitical risk premium in Brent crude.<\/li>\n\n\n\n<li><strong>Gulf crude supply routes:<\/strong> Continued exports through alternative routes and other shipping channels could reduce pressure on global supply.<\/li>\n\n\n\n<li><strong>US inventory data:<\/strong> Future changes in crude and distillate inventories may provide further clues on market balance.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">From a technical perspective, traders are watching whether UKOUSD can reclaim $92.50, while $92.10 remains the key short-term support level if downside pressure returns.<\/p>\n\n\n\n<details class=\"wp-block-details is-layout-flow wp-block-details-is-layout-flow\"><summary><strong>Frequently Asked Questions<\/strong><\/summary>\n<h3 class=\"wp-block-heading\">Why is Brent crude holding near $92?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Brent has been supported by continued uncertainty around the US-Iran conflict and shipping through the Strait of Hormuz. Concern over possible supply disruption has helped the benchmark maintain its recent gains.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Why does the Strait of Hormuz matter for UKOUSD?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Strait of Hormuz is a major route for global oil shipments, with roughly one-fifth of the world&#8217;s oil transported through the waterway. Restrictions or security concerns can therefore affect expectations for global crude supply and Brent pricing.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Are rising US crude inventories bearish for Brent?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Higher crude inventories can indicate greater available supply and may weigh on prices, but inventory data is only one market driver. The latest 4.4 million-barrel increase occurred alongside falling distillate inventories and continued geopolitical supply concerns, leaving the overall market signal mixed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What is the main UKOUSD level to watch?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The clearest near-term reference is <strong>$92<\/strong>. Brent recently traded above this level before consolidating close to it. A current UKOUSD chart would be required to establish more precise technical support and resistance levels.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What could cause Brent crude to pull back?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Improved shipping conditions, reduced geopolitical tensions, stronger crude supply or further inventory builds could reduce some of the supply-risk premiums currently supporting Brent. Conversely, renewed disruption around major shipping routes could keep volatility elevated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n<\/details>\n\r\n\n\n\n<p class=\"wp-block-paragraph\"><b>Start trading now \u2014 click <a href=\"https:\/\/www.vtmarkets.com\/en-ca\/trade-now\/\">here<\/a> to create your real VT Markets account.<\/b>\n\n<\/p>","protected":false},"excerpt":{"rendered":"<p>Key Points: Brent crude held firm near $92 a barrel on Thursday as traders weighed Middle East supply risks and the unresolved Strait of Hormuz situation. The move extends four straight sessions of gains after prices briefly topped $92 on Wednesday amid renewed regional tensions. Geopolitics remain the main driver, though signs that producers are <a href=\"https:\/\/www.vtmarkets.com\/analysis\/brent-crude-oil-holds-near-92-as-hormuz-uncertainty-persists\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":87,"featured_media":60280,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-60281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Key Points: Brent crude held firm near $92 a barrel on Thursday as traders weighed Middle East supply risks and the unresolved Strait of Hormuz situation. 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The move extends four straight sessions of gains after prices briefly topped $92 on Wednesday amid renewed regional tensions. 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