Discover why Brent is headed for its third 4% daily drop so far this month. Also, find out USDJPY's forecasted trading range in light of Japan's latest political uncertainties, in a week that also features the crucial Bank of Japan meeting.

Oil benchmarks have been hammered this week, shedding over 6% thanks to potent fundamental forces. Brent is under pressure on the daily charts with prices slipping below the 21-day SMA.

Risk aversion engulfed global markets yesterday (Tuesday, 1st October) as tensions flared up in the Middle East. Iran launched a barrage of ballistic missiles at Israel, sparking fears of a wider conflict in the region.

The past few months have been rough and rocky for oil benchmarks. Crude and Brent shed over 16% in Q3 due to expectations around OPEC+ bringing back production while a slowdown in China rubbed salt into the wound.