SINGAPORE: Brent oil may drop to $113.97 per barrel, as it has broken a support at $116.11.

The next support is at $113.97, a break below which could trigger a drop to $111.32.

The fall from the Wednesday high of $120.41 seems deep enough to confirm a completion of the bounce from the June 22 low of $107.03.

Brent oil may retest resistance at $112.93

Resistance is at $118.25, a break could lead to a gain to $120.90.