Brent Oil Price Risks Drop Below $100 as Trump’s Iran Talks Trigger Long Exodus
Brent oil price trades at $104.70 on May 22, sitting below one critical technical level. President Trumps call for a fast Iran deal is pulling the geopolitical risk premium out of crude. Hedge funds are cutting longs, put hedging is climbing, and the chart is testing channel support. The three signals are now lining up for a critical Brent crude test. Trumps Iran Talks Pull Brent Oil Toward a Channel Break “We‘re going to end that war very quickly. They want to make a deal so badly. They’re tired of this” President Trump predicts a deal to end the war with Iran is going to happen “fast” — and that oil prices will plummet when the agreement is reached. The statement marks the clearest de-escalation signal from the White House this month. Geopolitical risk had been the main bid under crude since April. Brent has been climbing inside an ascending parallel channel since April 17. The structure is a bullish formation where price rises between two parallel upward trendlines. Brent Channel Structure: TradingView The recent slide has pushed Brent against the channels lower boundary. A clean break of that line would flip the trend from bullish to neutral/bearish, opening downside for the first time in five weeks. That