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2018 Brent crude oil volatility: August outlook

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Watch: 2018 Brent crude oil volatility: August outlook

Quantitative analyst Vito Turitto on how the uptrend in Brent crude oil prices accelerated in late July in part due to increased geopolitical risk factors -- including escalating tension between US and Iran -- with the latter threatening to block the key choke points at the Strait of Hormuz, and healthy buying pressure felt from the Far East. However, summer demand is good, with the looming refinery turnaround season in Asia likely to limit the volumes of crude purchased by Chinese clients, which will undoubtedly affect prices during August.