Brent FuturesBrent Last Day Financial FuturesNYMEX_DL:BZ1!TJ-001Brent futures experienced another significant sell-off in June, breaking below the $90 support level and the 200-day moving average. As a result, the trend is now formally downward, targeting the $60 area. However, several factors call further declines into question: (1) the ongoing military conflict in the Middle East and the closure of the Strait of Hormuz, and (2) global oil inventories, which remain at multi-year lows. Long-term trend: Down Resistance level: 90 Support level: 60