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Brent Crude Holds Above Sixty Four Dollars as Geopolitics Limit Downside

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Published: January 28, 2026

Risk Premium

The presence of US naval assets near the Strait of Hormuz keeps a 'fear premium' of roughly $2-$3 per barrel in the price. Without this, Brent would likely be trading closer to $62.

Global Demand

Demand indicators from Europe remain soft, with manufacturing PMIs still in contraction territory. This lack of consumption growth is a major headwind for the complex.