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Brent Crude Expected to Post Over 12% Weekly Gain Amid Red Sea Shipping Concerns

2026-07-24 07:59:10

ING1.15%

According to ING analysts, Brent crude is expected to post over 12% gains this week despite intraday weakness. The benchmark crude fell 1.3% to $99.39 per barrel on July 24, while WTI crude dropped 1.4% to $90.89 per barrel. Red Sea shipping risks have fueled concerns over further supply disruptions. ING analysts noted that Brent crude approaching $120 per barrel would significantly increase pressure for negotiations.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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