Brent crude oil prices surged to nearly $111 on Monday following President Donald Trump's warning to Iran that "the clock is ticking," raising fears of renewed Middle East conflict. This geopolitical tension, coupled with the International Energy Agency's report of record inventory depletion, has heightened concerns over global oil supply. Technical analysis shows Brent crude is approaching a critical breakout point, with prices coiling inside a symmetrical triangle pattern since March 19. The pattern suggests a directional move is imminent, with resistance at $115. A confirmed close above this level could propel prices towards the previous high of $119.58, while failure to break through may see a retreat to $100.32. The Relative Strength Index (RSI) supports a bullish outlook, climbing towards 70. Geopolitical factors, including a fragile ceasefire and ongoing blockades in the Hormuz Strait, add to the uncertainty. With global inventories dwindling and tensions escalating, Brent's next move could be swift and significant.