Brent Continues to Climb Amidst Tension in the Middle East

<p><a href="https://admiralmarkets.com/analytics/traders-blog/brent-crude-january-2022"><picture class="lozad" data-iesrc="https://fxmedia.s3.amazonaws.com/articles/Trading_News_Brent_Crude.jpg" data- data- data-alt="Trading News" data-height="376" data-width="800"><source type="image/webp" media="(min-width: 640px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/720x,webp/fxmedia.s3.amazonaws.com/articles/Trading_News_Brent_Crude.jpg"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/375x,webp/fxmedia.s3.amazonaws.com/articles/Trading_News_Brent_Crude.jpg"></source></picture></a></p><p>It was only three weeks ago that we found ourselves speculating as to when Brent crude would <a href="https://admiralmarkets.com/analytics/traders-blog/brent-crude-december-2021" target="_blank" rel="noopener">break above $80 a barrel</a>, and yet today the commodity appears to be heading towards $90.</p><p>On Tuesday morning, Brent crude continued its recent rally in the market, with prices climbing more than 1.3%, reaching their highest level since 2014. This impressive run has seen price increase more than 24% since the beginning of December.</p><p>So, what’s fuelling this surge in oil prices?</p><p>Tuesday morning’s jump in prices came after Yemen’s Houthi group claimed responsibility for a series of drone strikes on the United Arab Emirates (UAE). The attacks, which caused an explosion and a fire on the outskirts of Abu Dhabi, left three people dead and triggered concerns about escalating hostilities and potential disruptions in the global supply of oil.</p><p>Oil supply, which is already restricted by OPEC+, has been tightened even further in recent months as some members struggle to produce at their agreed capacity.</p><p>On the demand side, demand for oil is on the rise, as particularly cold winter temperatures across the northern hemisphere are driving an increase in demand for heating fuels.</p><p>Furthermore, fears that Omicron would lead to a fall in demand, which led to price slumps in November, have eased, increasing demand expectations for 2022 as the world attempts to put the pandemic behind it.</p><p>All these factors are leading analysts to speculate that demand will continue to outstrip supply in the near future, meaning that oil prices could bet set for even further rises in the coming weeks and months.</p><figure><a href="https://admiralmarkets.com/analytics/traders-blog/brent-crude-january-2022"><picture class="lozad" data-iesrc="https://fxmedia.s3.amazonaws.com/articles/Brent_Daily_Chart-8.png" data- data- data-alt="Brent daily Chart" data-height="1314" data-width="2804"><source type="image/webp" media="(min-width: 640px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/720x,webp/fxmedia.s3.amazonaws.com/articles/Brent_Daily_Chart-8.png"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/375x,webp/fxmedia.s3.amazonaws.com/articles/Brent_Daily_Chart-8.png"></source></picture></a>
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<p><em>Depicted: Admirals <a href="https://admiralmarkets.com/trading-platforms/metatrader-5" target="_blank" rel="noopener">MetaTrader 5</a> – Brent Crude Daily Chart. Date Range: 25 March 2021 – 18 January 2022. Date Captured: 18 January 2022. Past performance is not a reliable indicator of future results.</em></p>
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</figure><p> </p><figure><a href="https://admiralmarkets.com/analytics/traders-blog/brent-crude-january-2022"><picture class="lozad" data-iesrc="https://fxmedia.s3.amazonaws.com/articles/Brent_Weekly_Chart-11.png" data- data- data-alt="Brent Weekly Chart" data-height="1314" data-width="2804"><source type="image/webp" media="(min-width: 640px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/720x,webp/fxmedia.s3.amazonaws.com/articles/Brent_Weekly_Chart-11.png"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/375x,webp/fxmedia.s3.amazonaws.com/articles/Brent_Weekly_Chart-11.png"></source></picture></a>
<figcaption><em>Depicted: Admirals MetaTrader 5 – Brent Crude Weekly Chart. Date Range: 5 July 2015 – 18 January 2022. Date Captured: 18 January 2022. Past performance is not a reliable indicator of future results.</em></figcaption>
</figure><p> </p><p><b>Trade Commodity CFDs with Admirals</b></p><p>With a Trade.MT5 account from Admirals, you can trade Contracts for Difference on Brent, West Texas Intermediate (WTI), gold, silver and many other commodities! CFDs allow traders to attempt to profit from both rising and falling prices, whilst also benefitting from the use of leverage. Click the banner below in order to open an account today:</p><p></p><div><div><span>Trade Commodity CFDs</span><p>Trade CFDs on Crude Oil, Coffee, Gold, Silver and More!</p><a target="_blank" href="https://admiralmarkets.com/start-trading">START TRADING</a></div><div><a target="_blank" href="https://admiralmarkets.com/start-trading"><a href="https://admiralmarkets.com/analytics/traders-blog/brent-crude-january-2022"><picture class="lozad" data-iesrc="https://dce5jani6jm7e.cloudfront.net/data/education/articles/commodities.svg" data- data- data-alt="Trade Commodity CFDs" data-height="" data-width=""><source type="image/webp" media="(min-width: 640px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/720x,webp/dce5jani6jm7e.cloudfront.net/data/education/articles/commodities.svg"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/375x,webp/dce5jani6jm7e.cloudfront.net/data/education/articles/commodities.svg"></source></picture></a></a></div></div><p> </p><p><b><em>INFORMATION ABOUT ANALYTICAL MATERIALS: </em></b> </p><p><em>The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admirals investment firms operating under the Admirals trademark (hereinafter “Admirals”) Before making any investment decisions please pay close attention to the following: </em> </p><ol>
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