Brent gains for the third consecutive day

• Brent price rose to $62.33 per barrel
• Technically, Brent could consolidate near $62.50
• Strongest Brent gain since October amid risks
• Pressure on Iran and Russia sanctions fuel the market
• The U.S. increased pressure on Venezuela

Oil prices surged by almost 3% the previous day.

The price of Brent crude rose to $62.33 per barrel on Friday.

From a technical standpoint, Brent on the daily timeframe broke above the traded range and could consolidate near $62.50.

The commodity continues to rise after jumping more than 3% the previous day, its strongest gain since October. Market focus remains on geopolitical risks.

U.S. President Donald Trump warned Iran of a "harsh" response in the event of protesters deaths, which renewed concerns about potential supply disruptions from one of OPEC's largest producers.

Additional attention was drawn to statements by Senator Lindsey Graham that Trump approved a bipartisan sanctions bill against Russia, targeting countries purchasing discounted Russian oil.

U.S. actions regarding Venezuela also remain in focus. Washington seized two tankers linked to Venezuelan oil in the Atlantic, including a vessel under the Russian flag.

These steps underscore the strengthening U.S. control over energy flows in the region and pressure on the Venezuelan government.