Brent Crude Oil ($BRENT) Commodity Forecast: Up 5.1% Today

What is Brent Crude Oil?

Brent Crude Oil is a major global benchmark for oil prices, representing the price of oil produced in the North Sea. The market for Brent Crude Oil is influenced by various factors including global supply and demand dynamics, geopolitical events, and economic indicators.

Why is Brent Crude Oil going up?

BRENT commodity is up 5.1% on Oct 23, 2025 9:00

• Brent Crude Oil rose above $62 per barrel.
• The market reacted positively to the possibility of a trade deal between the US and India, which could reduce Indian imports of Russian crude and increase demand for other oil sources.
• Additionally, speculations about a decrease in US crude inventories, expansions in the Strategic Petroleum Reserve, and decreases in fuel stockpiles boosted the bullish sentiment.
• The combination of these factors, alongside concerns about global oversupply and geopolitical tensions, led to Brent Crude Oil's upward movement.

BRENT Price Chart

BRENT Technical Analysis

BRENT News

Brent Crude Oil Bounces Back Above $62

Brent crude oil futures rose 2% to $62.5 per barrel on Wednesday, rebounding from near multi-year lows, as reports suggested the US and India may reach a trade deal that could see India gradually reduce imports of Russian crude, boosting demand for other sources. President Trump said Indian Prime Minister Modi assured him of the wind-down, though Modi acknowledged the call without details. India’s refiners have signaled they may trim, but not halt, imports. Meanwhile, the EU is expected to approve a 19th Russia sanctions package after Slovakia dropped objections. Additionally, the US Energy Department announced plans to add 1 million barrels to the Strategic Petroleum Reserve, potentially tightening near-term supply. EIA data also showed that US crude inventories fell by nearly 1 million barrels last week, the first decline in four weeks, while fuel stockpiles, including gasoline, also dipped more than expected.

Brent Extends Gains

Brent crude oil futures rose to around $61.5 per barrel on Wednesday, extending gains from the previous session after an industry report showed falling stockpiles. API data revealed US inventories fell 3 million barrels last week, the first decline in four weeks, while fuel stockpiles, including gasoline, also dipped. Meanwhile, President Trump reiterated that India plans to reduce its Russian oil purchases, claiming for a second week about a discussion with Prime Minister Modi, though India’s foreign ministry denied any knowledge last week. The US Energy Department also plans to add 1 million barrels to the Strategic Petroleum Reserve, potentially tightening near-term supply. Still, oil struggles to rise from near multi-year lows amid concerns over a supply glut. Vortexa data showed a record 1.24 billion barrels of crude and condensate in transit globally, following the IEA’s warning of a record surplus next year as OPEC+ and other producers increase output amid slowing demand growth.

Brent Crude Oil Falls Toward 4-1/2-Year Low

Brent crude oil futures fell to $60.7 per barrel on Tuesday, approaching a near 4½-year low of $60.35 hit in the previous session, as investors weighed growing oversupply concerns ahead of US-China trade talks. Data from Vortexa showed a record 1.24 billion barrels of crude and condensate moving on tankers worldwide, signaling a swelling glut as producers continue to pump despite weakening demand. The IEA warned that global oil markets could face a record surplus next year, with OPEC+ and other producers adding supply even as demand growth slows. Analysts expect US crude inventories to have risen again last week, adding to bearish sentiment. Still, draws in gasoline and distillates provided some short-term support. Investors are watching upcoming trade negotiations between the US and China, and a possible meeting between Presidents Trump and Xi.

Brent Swings Near 4-1/2-Year Low

Brent crude oil futures rose to $61.5 per barrel on Tuesday, remaining not far from a 4½-year low of $60.35 hit in the previous session, as investors weighed growing oversupply concerns ahead of US-China trade talks. Data from Vortexa showed a record 1.24 billion barrels of crude and condensate moving on tankers worldwide, signaling a swelling glut as producers continue to pump despite weakening demand. The IEA warned that global oil markets could face a record surplus next year, with OPEC+ and other producers adding supply even as demand growth slows. Analysts expect US crude inventories to have risen again last week, adding to bearish sentiment. Still, draws in gasoline and distillates provided some short-term support. Investors are watching upcoming trade negotiations between the US and China, and a possible meeting between Presidents Trump and Xi.

Brent Crude Oil Extends Decline

Brent crude oil futures fell to around $60.8 per barrel on Tuesday, extending losses from the previous session, as growing concerns over a global oversupply and uncertainties surrounding US-China trade negotiations kept markets on edge. The volume of crude stored at sea has now climbed to a record high, signaling a deepening imbalance in the market and reinforcing the prevailing bearish outlook. As of the week ending October 17, approximately 1.24 billion barrels of crude and condensate were in transit via tankers, up slightly from the previous week’s revised total of 1.22 billion barrels. Meanwhile, markets are closely watching the upcoming negotiations between U.S. and Chinese officials in Malaysia, seen as a critical precursor to a high-stakes summit between President Donald Trump and President Xi Jinping later this month.

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Brent Crude Oil Price History

29.06.2025 - BRENT Commodity was up 3.5%

• Brent Crude Oil surged towards $71 per barrel, marking a significant increase driven by stronger-than-expected US economic data and escalating global supply risks.
• A notable ultimatum and sanctions added to market uncertainties and supported oil prices.
• Optimism surrounding trade agreements and ongoing trade talks between major economies also contributed to the bullish sentiment in the oil market.
• Summer demand and tight inventories continue to support oil prices, but concerns over a potential supply glut later in the year loom over the market as production levels may increase.

17.05.2025 - BRENT Commodity was up 5.6%

• Brent Crude Oil reached $73.5 per barrel, showing a strong bullish movement.
• The bullish trend is linked to increasing tensions between Israel and Iran. Israel's attacks on Iran's key energy infrastructure have raised concerns about potential disruptions to oil supplies from the Middle East.
• There were indications of Iran's interest in de-escalating tensions and resuming nuclear negotiations, leading to a brief pullback in oil prices. However, the market remains volatile due to the ongoing conflict.
• The Strait of Hormuz, a critical chokepoint for global oil trade, remains a point of concern. Possible disruptions in the strait pose a significant risk to oil prices in the near term.

17.05.2025 - BRENT Commodity was up 5.0%

• Brent Crude Oil surged over 4% to settle at $76.4 per barrel on Tuesday.
• The uptrend was mainly fueled by escalating tensions between the US and Iran, with US President Donald Trump's strong language and threats towards Iran's Supreme Leader Ayatollah Ali Khamenei raising concerns about supply.
• Israel's airstrikes on Iran and the potential for disruptions in energy flows and trade routes added to the market's edginess regarding a possible escalation in the conflict.
• Despite the price hike, analysts highlighted that the oil market has maintained stability due to robust global supply, including increased OPEC+ production and record US output. However, any move by Iran to block the critical Strait of Hormuz could propel prices above $100 per barrel.

23.05.2025 - BRENT Commodity was down 13.5%

• Brent Crude Oil experienced a strong bearish movement, dropping 7.2% to settle at $71.50 per barrel.
• The market reacted to easing fears of an immediate escalation in Middle East tensions following Iran's missile strike on a US airbase in Qatar, which resulted in no reported casualties.
• Despite the initial rally in oil prices due to geopolitical uncertainties, the pullback occurred as markets reassessed the risk of near-term disruption in oil supply, especially through the vital Strait of Hormuz.
• The potential de-escalation in the Middle East conflict and the market's reaction to geopolitical developments led to the significant drop in Brent Crude Oil prices.

23.05.2025 - BRENT Commodity was down 10.1%

• The bearish movement in Brent Crude Oil today was primarily driven by the market reassessing the risk of near-term disruption in oil supply, leading to a sharp decline in prices.
• Despite initial bullish sentiment due to escalating tensions between the US and Iran, the decision by President Trump to delay potential military involvement tempered fears of an immediate supply shock, triggering profit-taking and contributing to the bearish movement.
• The ongoing geopolitical tensions in the Middle East, including missile exchanges between Israel and Iran, continue to threaten the supply of energy from the region, adding further uncertainty to oil markets and influencing the bearish movement in Brent Crude Oil today.

23.05.2025 - BRENT Commodity was down 6.3%

• The decline in Brent Crude Oil prices today can be linked to President Trump's choice to postpone possible US military action against Iran, momentarily easing tensions in the Middle East.
• Market response was negative due to the delay in military engagement reducing the immediate risk of supply disruptions, prompting investors to take profits.
• Despite the price fall, the Middle East remains precarious with ongoing missile exchanges between Israel and Iran, raising concerns about potential disruptions in global crude oil flow via the crucial Strait of Hormuz.
• Geopolitical risks, supply limitations, and economic conditions still heavily influence the oil market sentiment, resulting in a complicated and unpredictable trading environment for Brent Crude Oil.

02.08.2025 - BRENT Commodity was up 0.0%

• Brent crude oil prices saw a surge above $68 per barrel, led by concerns regarding supply disruptions amid the Russia-Ukraine conflict and potential secondary sanctions on Russia.
• This upward trend was bolstered by positive economic indicators from China, which pointed towards robust manufacturing activity and alleviated immediate demand concerns.
• However, the anticipation of a surplus in supply and less optimistic demand projections are limiting further price increases. Investors are keeping a close watch on the upcoming OPEC+ meeting to gauge decisions on output adjustments.
• The market's volatility persists as geopolitical tensions, such as India's response to US pressures regarding Russian oil purchases, continue to influence price fluctuations against the backdrop of a complex global supply and demand landscape.

16.05.2025 - BRENT Commodity was down 5.7%

• The bearish movement in Brent Crude Oil prices today can be attributed to the easing of tensions between Israel and Iran, leading investors to scale back on risk-off trades.
• The market sentiment shifted as signs emerged that the conflict may not escalate further, especially with Iran's oil infrastructure remaining untouched, reducing fears of immediate supply disruptions.
• Despite the retreat in oil prices, geopolitical risks in the Middle East remain elevated, particularly concerns about potential disruptions to the critical chokepoint of the Strait of Hormuz, through which a significant portion of global oil consumption flows.
• The cancellation of nuclear talks between Iran and the US also added to the uncertainty in the market, contributing to the downward pressure on Brent Crude Oil prices today.

24.05.2025 - BRENT Commodity was down 10.5%

• Brent Crude Oil saw a notable decrease today, with prices dropping approximately 5% to $68.1 per barrel.
• The price decline was initiated by an announcement of a ceasefire between Israel and Iran by President Trump, easing concerns about oil supply disruptions in the Middle East.
• Market response to the ceasefire news was observed, as worries of Iran obstructing the critical chokepoint of the Strait of Hormuz decreased, which serves as a key route for global oil supply.
• Despite the current calm in tensions, the market remains wary as the ceasefire between Israel and Iran is fragile, accompanied by allegations of breaches and potential missile threats, maintaining uncertainty in the oil market.

24.05.2025 - BRENT Commodity was down 11.2%

• The bearish movement in Brent Crude Oil was triggered by the announcement of a ceasefire between Israel and Iran, easing fears of supply disruptions in the Middle East.
• The de-escalation of tensions following Iran's missile strike on a US military base in Qatar, which resulted in no casualties, contributed to the downward pressure on oil prices.
• The market reacted negatively to the news of a potential peace agreement, as it reduced the perceived risk of Iran blocking the critical Strait of Hormuz, a key chokepoint for global oil flows.
• Despite initial concerns of supply disruptions, the market sentiment shifted towards oversupply as oil tankers continued to navigate through the region, leading to a sharp decline in oil prices.

24.05.2025 - BRENT Commodity was down 10.5%

• Brent crude oil prices plummeted by nearly 3% to below $69 per barrel following an announcement of a ceasefire between Israel and Iran, easing concerns over potential oil supply disruptions in the region.
• The de-escalation of tensions in the Middle East, particularly after a missile strike on a US airbase resulted in no casualties, contributed to the bearish movement as fears of immediate escalation subsided.
• Market sentiment shifted as signs emerged that Iran might refrain from targeting oil flows in the Persian Gulf, leading to a sharp decline in oil prices as the risk of near-term disruption lessened.
• Despite the initial rally in oil prices due to US involvement in the conflict, the reassessment of risks and waiting for Iran's next move ultimately drove Brent crude oil prices down, highlighting the volatility of the commodity market in response to geopolitical events.

23.09.2025 - BRENT Commodity was up 5.1%

• Brent Crude Oil rose above $62 per barrel.
• The market reacted positively to the possibility of a trade deal between the US and India, which could reduce Indian imports of Russian crude and increase demand for other oil sources.
• Additionally, speculations about a decrease in US crude inventories, expansions in the Strategic Petroleum Reserve, and decreases in fuel stockpiles boosted the bullish sentiment.
• The combination of these factors, alongside concerns about global oversupply and geopolitical tensions, led to Brent Crude Oil's upward movement.