Brent Crude Dec’ Futures ($US/barrel)

The US-Iran conflict shows no sign of abating as Lebanon saw its deadliest day of fighting in months over the weekend, loading further pressure on stalled US-Iran negotiations while Washington preps fresh sanctions. The oil price has opened flat on a wet Monday morning in Sydney.

• We can see Dec’ crude oil rotating in the US$70-90 region over the coming weeks as the US-Iran conflict plays out.