Brent Crude Oil ($BRENT) Commodity Forecast: Up 3.5% Today

What is Brent Crude Oil?

Brent Crude Oil, a key global benchmark for oil prices, experienced a strong bullish movement today amidst various geopolitical tensions and supply concerns.

Why is Brent Crude Oil going up?

BRENT commodity is up 3.5% on Jul 29, 2025 17:46

• 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.

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BRENT News

Brent Crude Oil Approaches $71

Brent crude oil futures rose more than 1% toward $71 per barrel on Tuesday, extending a 2.4% gain in the previous session driven by stronger-than-expected US economic data and growing concerns over global supply risks. President Trump warned Russia of “secondary sanctions” if it doesn’t agree to a Ukraine ceasefire within 10–12 days, with the Kremlin signaling no change in stance. The warning follows fresh EU sanctions on Russia, which also impacted India’s Nayara Energy, forcing it to cut refinery output. On the macro front, US consumer confidence beat expectations, supporting optimism around demand. Attention now turns to the Aug. 1 trade deal deadline and the upcoming OPEC+ meeting that will decide September output levels. Oil is on track for a third straight monthly gain, supported by strong summer demand and tight inventories in key regions. However, a potential supply glut later in the year looms as OPEC+ continues raising production.

Brent Hits 5-week High

Brent increased to 70.70 USD/Bbl, the highest since June 2025. Over the past 4 weeks, Brent Crude Oil gained 5.9%, and in the last 12 months, it decreased 9.47%.

Brent Rises on Shorter US Deadline for Russia

Brent crude oil futures climbed to around $70.1 per barrel on Tuesday, hitting a more than one-week high amid renewed concerns of tighter global oil supplies after President Donald Trump cuts deadline for Russia to reach Ukraine peace deal. On Monday, Trump said Russia now has about 10 to 12 days to agree to a ceasefire or face potential “secondary sanctions”, shortening the 50-day deadline he suggested earlier this month. This follows new EU sanctions package on Moscow, including a lower price cap on Russian oil, additional banking restrictions, and a ban on a large Indian oil refinery. Further supporting prices, the US and EU agreed on Sunday to a broad-brush trade deal that sets a 15% tariff on most European goods. This comes after recent trade announcements—including a deal with Japan—alleviating fears that tariffs could hurt global economic growth and energy demand. Investors are now eyeing the ongoing US-China talks, with expectations for another 90-day extension on tariff pause.

Brent Crude Oil Rises to $70

Brent crude oil futures rose over 2% to $70 per barrel on Monday, as optimism grew from a US-EU trade deal and fresh comments from President Trump on Ukraine. Trump said the EU agreed to buy $750 billion in US energy, though details remain unclear. Trump said the EU agreed to buy $750 billion in US energy, though details remain unclear. He also announced a new 10 to 12-day deadline for Russia to agree to a Ukraine ceasefire, from a previously 50-day deadline, expressing frustration that Putin hadn’t already done so. Previously, Trump warned of 100% tariffs on Russia if no truce is reached. While this boosted oil prices, longer-term concerns remain. Trump’s trade threats have fueled fears of slower global growth, which could hurt energy demand. At the same time, OPEC+ is expected to raise its production target again, raising the risk of oversupply. Meanwhile, US and Chinese officials are meeting to discuss trade, with signs they may extend their tariff truce.

Brent Edges Higher on US-EU Trade Deal

Brent crude oil futures rose to around $68.6 per barrel on Monday, following the announcement of a US-EU trade agreement. On Sunday, US President Donald Trump and European Commission President Ursula von der Leyen unveiled the deal, which imposes a 15% tariff on most European goods—avoiding Trump’s earlier threat of a 30% rate. The agreement mirrors key elements of the framework reached between the US and Japan last week. These developments fueled optimism over a further easing of global trade tensions, potentially strengthening expectations for crude demand. Meanwhile, investors are also keeping a close eye on this week’s release of the first survey-based estimates for OPEC production in July, which will provide insight into the extent to which the five OPEC members participating in voluntary output cuts have increased their production levels.

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Brent Crude Oil Price History

13.05.2025 - BRENT Commodity was up 6.4%

• Brent Crude Oil prices surged significantly by over 6-8% to reach around $73-$75 per barrel, hitting their highest levels since February, driven by escalating tensions in the Middle East, particularly after Israel's strike on Iran.
• Geopolitical concerns in the region, especially fears of supply disruptions due to potential retaliation from Iran near the critical Strait of Hormuz, fueled investor worries and supported the bullish sentiment in the oil market.
• Additionally, data indicating a larger-than-expected drop in U.S. crude inventories, along with softer U.S. inflation reinforcing expectations of Fed rate cuts, further contributed to the bullish momentum in Brent Crude Oil prices.
• The overall market sentiment remains influenced by geopolitical risks, supply-demand dynamics, and macroeconomic factors, shaping the trajectory of oil prices in the near term.

13.05.2025 - BRENT Commodity was up 9.1%

• Brent crude oil surged nearly 8% to $75 per barrel, hitting a two-month high, following Israel's preemptive strike on Iran. The fear of potential supply disruptions due to a broader conflict in the Middle East, including threats to the vital oil route of the Strait of Hormuz, contributed to the bullish momentum.
• The US preparing for a partial evacuation of personnel from the region after Iran's threats and the anticipation of Fed rate cuts by September added to the bullish sentiment by signaling potential economic growth and increased oil consumption.
• The ongoing US-China trade tensions and the agreement to ease tariffs also played a role in boosting optimism for energy demand, further supporting the rise in oil prices.
• Despite OPEC+ plans to increase output in July, the drawdown in US crude inventories and strong demand signals indicated by various data releases reinforced the bullish trend in Brent Crude Oil prices.

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.

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.