TF Securities: Brent crude oil prices are expected to average between $70 and $75 per barrel in the second half of the year

```htmlGolden Ten Data reported on July 16 that Tianfeng Securities' research suggests the international crude oil market in the first half of the year experienced a "roller coaster" trend dominated by geopolitical risks, with international oil prices quickly retreating after climbing to nearly $120 per barrel. Recently, although the Strait of Hormuz has seen renewed tensions, overall risks remain manageable, and the core pricing logic in the crude oil market is shifting from "extreme geopolitical risks" to a three-way game of "tail-end geopolitical risks, political intervention, and fundamental equilibrium." In the second half of the year, oil prices are likely to show wide-range volatility with resistance above and support below, with the overall trend possibly "first strong, then weak." The Brent crude oil price is expected to operate between $70 and $75 per barrel.```