Is the Oil Crash Accelerating? Why Brent’s $95 Descending Channel Is Trapping the Bulls

International benchmark Brent Crude Oil (BZ) has plunged to $95.30 per barrel as of May 25, 2026, pushing deep into a bearish corrective phase on the daily chart. While the seven-week-old conditional U.S.-Iran ceasefire has successfully stabilized, allowing Strait of Hormuz tanker traffic to recover to 75–80% of pre-crisis capacity, the removal of the geopolitical panic premium has unmasked a brutal fundamental reality. The market is rapidly shifting from supply-shock fears to a structural near-term surplus, leaving overextended bulls completely trapped.