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Testing Resistance

Brent, cracks and Brent spreads remain bullish but face key resistance, while E/W gasoline rebounds and 3.5% barge stays rangebound.
Published: July 21, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
9 page report
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This past week, the M1 Brent futures rose to the upper $80s level and briefly surpassed $90/bbl, now trading above the 50-day moving average. On the upside, beyond the $90/bbl psychological level, further resistance may be found at the 100-day moving average just below $95/bbl, in line with 05-11 Jun resistance. Above that is the critical $100/bbl psychological level...

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Written by

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi

Donna Dong

Research Analyst, Flux
Donna Dong

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