Brent Crude Oil ($BRENT) Commodity Forecast: Down 5.3% Today

What is Brent Crude Oil?

Brent Crude Oil is a major trading classification of sweet light crude oil that serves as a major benchmark price for purchases worldwide. The commodity is highly influenced by global supply and demand dynamics, geopolitical tensions, and economic indicators.

Why is Brent Crude Oil going down?

BRENT commodity is down 5.3% on May 1, 2025 9:55

• Brent crude oil futures prices took a significant downward turn due to various reasons:
• Saudi Arabia's plan to boost production and regain market share, along with OPEC+ considering additional output increases, led to concerns of a price war and oversupply.
• The ongoing US-China trade tensions and worries of a global economic slowdown added pressure on oil demand.
• News of a larger-than-anticipated decrease in US crude inventories offered some relief but was overshadowed by the prevailing bearish market sentiment.
• Uncertainty regarding changes in global policies, such as unpredictable US tariff decisions and escalating trade disputes, further fueled negative perceptions of oil prices.

BRENT Price Chart

BRENT Technical Analysis

BRENT News

Brent Steady After Biggest Monthly Drop Since 2021

Brent crude oil futures stabilized around $61.1 per barrel on Thursday, after posting its largest monthly decline since 2021 as signs of another Saudi-led OPEC+ oil supply surge added to concerns about weakening demand amid a global trade war. Reports indicated that Saudi Arabia is briefing allies and industry experts to say the kingdom is unwilling to shore up the market with further output cuts and can endure a prolonged period of lower prices. This reinforced expectations that OPEC+ may announce a fresh increase in production when they meet on May 5. Additionally, the U.S. economy contracted in Q1, marking its first decline in three years, highlighting the economic disruptions caused by President Donald Trump’s aggressive trade policy. Meanwhile, a larger-than-expected draw in U.S. crude inventories last week provided some support to prices.

Brent Logs Steep April Loss

Brent crude oil futures fell nearly 1.8% to settle at $63.1 per barrel on Wednesday, posting their sharpest monthly drop since late 2021 with a 15% decline amid mounting concerns over a global supply glut and weakening demand. Prices were pressured by Saudi Arabia’s signal to increase production and recapture market share, while OPEC+ is reportedly weighing additional output hikes at its May 5 meeting, stoking fears of a renewed price war. Trade tensions between the US and China further clouded the demand outlook, compounded by a first-quarter contraction in the US economy and a sharp drop in consumer confidence. Despite the bearish sentiment, a surprise drawdown in US crude inventories—down 2.7 million barrels last week—helped limit further losses.

Brent Drops for Third Day

Brent crude oil futures dropped toward $63 per barrel on Wednesday, falling for the third consecutive session and hovering near a two-week low, as uncertainty over shifting global policies continued to weigh on demand outlook. Oil is also on pace for a monthly loss of over 15%—its steepest decline since November 2021. Erratic US tariff moves have heightened fears of a global economic slowdown, especially amid the ongoing tit-for-tat tariff exchanges between the US and China, fueling a trade war between the world’s two largest oil consumers Further dampening market sentiment, US consumer confidence fell sharply, signaling growing economic strain, while OPEC+ may consider accelerating its planned production increases at its May 5 meeting. API data also revealed that US crude inventories rose by 3.76 million barrels last week—well above the expected 390 thousand barrel build.

Brent Crude Oil Falls by Over 2%

Brent crude oil futures dropped over 2% toward $64 per barrel, a two-week low, extending a 1.5% loss in the previous session, as global trade tensions and weak US data dampened the demand outlook. Brent is on track for its steepest monthly decline since 2021, down 14% in April, as fears grow that President Trump’s escalating tariffs could push the global economy into recession. US consumer confidence slumped, adding to signs of economic strain. Meanwhile, OPEC+ may accelerate its planned output hikes at its May 5 meeting, with Saudi Arabia and others expected to boost supply. Kazakhstan increased oil exports by 7% year-on-year to 1.63 million barrels per day in Q1, helped by rising flows through the Caspian pipeline. Also, hopes for a return of Iranian oil have also resurfaced amid progress in nuclear talks and a temporary truce in Russia’s war on Ukraine was announced, set to begin May 8.

Brent Slips for 2nd Day

Brent crude oil futures fell to around $65.6 per barrel on Tuesday, marking a second consecutive session of losses amid a lack of clarity on U.S.-China trade talks and prospects of oversupply. On Monday, Treasury Secretary Scott Bessent said that it is “up to China” to de-escalate trade tensions with the U.S., amid confusion about whether formal negotiations are currently underway. The ongoing trade conflict between the world’s two largest economies has fueled fears of a global economic slowdown, which would directly weigh on energy demand. Adding further pressure, some OPEC+ members are expected to suggest an acceleration of output hikes during their meeting on May 5, potentially extending production increases for a second straight month. Investors are also watching U.S.-Iranian nuclear negotiations, which could lead to more supply if an agreement is reached and sanctions are eased.

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Brent Crude Oil Price History

08.03.2025 - BRENT Commodity was down 5.4%

• Brent crude oil futures dropped below $64 per barrel due to multiple factors:
• The escalating US-China trade war raised fears of reduced global demand for oil.
• OPEC+ announced a larger-than-expected output increase for May, adding to oversupply concerns.
• Speculation and denial of a possible 90-day delay on new tariffs caused market volatility.
• Trade tensions, supply-side pressures, and geopolitical uncertainties contributed to the bearish trend in Brent Crude Oil prices.

10.03.2025 - BRENT Commodity was up 5.1%

• Brent Crude Oil surged above $65 per barrel as recession fears eased and trade tensions between the US and China showed signs of de-escalation.
• The decision by President Trump to suspend reciprocal tariffs for most countries for 90 days calmed market concerns and boosted risk appetite.
• Despite the ongoing US-China trade dispute and fears of oversupply due to OPEC+ increasing production, the rebound in prices was supported by a larger-than-expected draw in gasoline and distillate inventories.
• The market sentiment was also influenced by the suspension of tariffs for most countries, contrasting the heightened tensions between the US and China, which had initially sparked concerns about weaker fuel demand.

10.03.2025 - BRENT Commodity was up 6.6%

• The bullish movement in Brent Crude Oil today can be attributed to the de-escalation in US-China trade tensions and the suspension of reciprocal tariffs for most countries by President Trump, which boosted market confidence and improved the outlook for energy demand.
• Additionally, the larger-than-expected draw in gasoline and distillate inventories reported in the latest EIA report helped offset concerns about oversupply, supporting the rebound in oil prices.
• The market sentiment was further reinforced by hints from OPEC+ officials suggesting potential delays in production increases, which helped alleviate worries about excess supply and contributed to the bullish momentum in Brent Crude Oil.

01.04.2025 - BRENT Commodity was down 5.3%

• Brent crude oil futures prices took a significant downward turn due to various reasons:
• Saudi Arabia's plan to boost production and regain market share, along with OPEC+ considering additional output increases, led to concerns of a price war and oversupply.
• The ongoing US-China trade tensions and worries of a global economic slowdown added pressure on oil demand.
• News of a larger-than-anticipated decrease in US crude inventories offered some relief but was overshadowed by the prevailing bearish market sentiment.
• Uncertainty regarding changes in global policies, such as unpredictable US tariff decisions and escalating trade disputes, further fueled negative perceptions of oil prices.

09.03.2025 - BRENT Commodity was down 8.8%

• Brent crude oil futures dropped significantly, hitting a 4-year low, as fears of a global economic slowdown intensified due to the escalating trade tensions between major economies.
• The market was further pressured by decisions to increase oil production more rapidly than anticipated, raising concerns about oversupply.
• The bearish trend was also fueled by reports of potential tariffs and trade disputes between major economies, leading to uncertainties about future demand for oil.
• Despite some temporary rebounds driven by speculations and geopolitical developments, the overall sentiment remained negative, with the market struggling to find stability amidst the ongoing trade war and production dynamics.

09.03.2025 - BRENT Commodity was up 5.4%

• The bullish movement in Brent Crude Oil today was primarily driven by:
• President Trump's decision to suspend reciprocal tariffs for most countries, easing recession fears and boosting energy demand outlook.
• Reports of a larger-than-expected draw in gasoline and distillate inventories, offsetting concerns of rising crude stockpiles.
• Hints from OPEC+ officials suggesting potential delays in planned production increases, alleviating oversupply worries.
• The positive sentiment in the oil market was further supported by the de-escalation in trade tensions and the revival of risk appetite following tariff suspension, contributing to the strong rebound in oil prices.

09.03.2025 - BRENT Commodity was down 5.9%

• Brent crude oil futures experienced a strong bearish movement, dropping below $61 per barrel amid concerns of a global recession due to escalating U.S.-China trade tensions.
• President Trump's threats of imposing tariffs on Chinese imports, coupled with China's retaliatory measures, have heightened fears of reduced energy demand and a potential economic slowdown.
• The market sentiment was further dampened by OPEC+'s decision to increase output, Saudi Arabia's price cuts, and uncertainties surrounding global trade policies, all contributing to the downward pressure on Brent prices.
• Despite occasional technical rebounds, the overall trend remains bearish as investors grapple with the implications of a protracted trade dispute and its impact on oil demand and market stability.

04.03.2025 - BRENT Commodity was down 5.1%

• Brent Crude Oil experienced a strong bearish movement due to the following reasons:
• OPEC+ countries announced a significant increase in oil production, exceeding market expectations, which led to oversupply concerns and downward pressure on prices.
• Global trade uncertainties, particularly sparked by the US tariffs announcement, raised fears of a potential economic slowdown and reduced fuel demand, further dampening oil prices.
• Rising US crude inventories, contrary to forecasts, added to the bearish sentiment as it indicated a surplus in supply.
• Geopolitical tensions, including export restrictions from Russia and trade policy uncertainties, contributed to market volatility and downside risks for oil prices.

04.03.2025 - BRENT Commodity was down 5.4%

• Brent Crude Oil saw a notable bearish movement, falling below $66 per barrel, marking the lowest level since August 2021.
• This decline is linked to concerns about a potential global economic slowdown and decreased oil demand, with escalating trade tensions, notably a 34% tariff imposed by China on U.S. goods.
• The decision by OPEC+ to raise output by 411,000 barrels per day in May, exceeding the initial target, contributed to the surplus of supply, further impacting oil prices.
• Ongoing trade conflicts, uncertainties in global trade, and looming recession risks have raised investor apprehension, resulting in the most substantial weekly decline in Brent Crude Oil prices in six months.

04.03.2025 - BRENT Commodity was down 7.1%

• Brent Crude Oil dropped by over 6.5% to below $66 per barrel, hitting its lowest point since August 2021. This sharp decline can be attributed to:
• OPEC+ accelerating its supply increase plans, aiming to add 411,000 barrels per day in May, causing oversupply concerns in the market.
• Rising global trade tensions, particularly with China imposing a 34% tariff on U.S. goods, adding pressure on oil prices amidst fears of reduced demand due to potential economic slowdown.
• The ongoing trade disputes and the unexpected surge in OPEC+ output have intensified market volatility, leading to Brent Crude Oil facing its largest percentage drop in six months.
• With Brent Crude Oil on track for nearly a 10% decline for the week, investors are closely monitoring the situation, as uncertainties surrounding global trade dynamics and supply-demand imbalances continue to weigh heavily on the commodity's value.

04.03.2025 - BRENT Commodity was down 5.3%

• Brent Crude Oil hit a 4-week low at $69.05 USD/Bbl, marking a 0.3% loss over the past 4 weeks and a 24.21% decrease in the last 12 months.
• The bearish movement was primarily driven by OPEC+ countries deciding to increase oil production by 411,000 barrels per day, well above expectations, which added to concerns about oversupply in the market.
• Global trade worries, especially due to the announcement of higher US tariffs and fears of a potential trade war, further weighed on Brent prices, as it could slow economic growth and reduce fuel demand.
• The market volatility was also influenced by uncertainties surrounding trade policies, including potential levies on crude imports and geopolitical tensions, keeping risks skewed to the downside for oil prices.

04.03.2025 - BRENT Commodity was down 8.6%

• Brent Crude Oil dropped to a 3-year low of $66.628 USD/Bbl.
• The market was influenced by the OPEC+ decision to increase oil production by 411,000 barrels per day, well above expectations, leading to oversupply concerns.
• Global trade tensions, sparked by higher US tariffs and fears of a trade war, added pressure on oil prices as investors worried about reduced fuel demand due to potential economic slowdown.
• Unexpected rise in US crude inventories by 6.2 million barrels also contributed to the bearish sentiment, indicating higher supply levels than anticipated.