Brent Crude Oil ($BRENT) Commodity Forecast: Up 6.4% Today

What is Brent Crude Oil?

Brent Crude Oil is a key global benchmark for oil prices, representing the value of light sweet crude oil produced in the North Sea. Today, the market saw a strong bullish movement in Brent Crude Oil prices.

Why is Brent Crude Oil going up?

BRENT commodity is up 6.4% on Jun 13, 2025 17:37

• 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.

BRENT Price Chart

BRENT Technical Analysis

BRENT News

Brent Rallies on Middle East Tensions, Supply Concerns

Brent crude oil futures rallied over 6% to $73.7 per barrel on Friday, paring some gains after hitting their highest level since February, as fears of a broader conflict in the Middle East intensified following Israel’s strike on Iran. While the attacks did not directly target oil infrastructure, investors remain wary of potential retaliation, especially given Iran’s strategic control near the Strait of Hormuz—a critical chokepoint for global oil shipments. Iran's April crude output stood at 3.305 million barrels per day, underscoring the region’s vital role in global energy supply. Adding to the bullish sentiment, data from the International Energy Agency showed a larger-than-expected drop in U.S. crude inventories last week, suggesting firm demand. Despite mounting geopolitical tensions, the IEA reassured markets that it holds 1.2 billion barrels of emergency reserves and stands ready to intervene if necessary.

Brent Surges After Israeli Strike on Iran

Brent crude oil futures surged nearly 8% toward $75 per barrel on Friday, marking a fresh two-month high after Israel launched a preemptive strike against Iran, fueling concerns over potential supply disruptions. Israel declared a “special situation,” with reports suggesting Iran could soon retaliate against Israeli targets, including civilian areas. The prospect of a broader Middle East conflict threatens to disrupt the Strait of Hormuz, a vital route for about 20% of global oil flows. Adding to geopolitical risks, the US is preparing a partial evacuation of personnel from the region after Iran threatened to target US bases if nuclear talks fail. Further supporting prices, EIA data showed US crude stocks fell more than expected last week, signaling strong demand, while softer US inflation reinforced bets of Fed rate cuts by September, potentially boosting economic growth and oil consumption. For the week, oil is on track for its best performance since late February 2022.

Brent Crude Oil is up by 5%

Brent Crude Oil increased 5% to 72.825 USD/Bbl

Brent Hovers Near 2-Month Highs as US-Iran Tensions Escalate

Brent crude oil futures fell to around $69.4 per barrel on Thursday, but remained near its highest level in over two months, as rising tensions between the US and Iran sparked fears of supply disruptions. The US is preparing a partial evacuation of some personnel in the Middle East after Iran threatened to strike US bases in the region if nuclear negotiations fail. Further supporting prices, the US and China on Tuesday agreed to a framework and implementation plan to ease tariff and trade tensions, boosting optimism for energy demand from the world’s two largest oil consumers. Data released by US EIA showed crude oil stocks fell by 3.6 million barrels in the week ended June 6, more than forecasts of a 2 million-barrel decline, signaling strong demand. Moreover, softer-than-expected US consumer inflation data reinforced expectations that the Federal Reserve could begin cutting rates by September, which could spur economic growth and oil demand.

Brent Rallies Toward $70

Brent crude oil futures 4.3% to settle at $69.8 per barrel on Wednesday, after President Donald Trump announced a preliminary trade deal with China, lifting hopes for stronger energy demand from the world’s two largest economies. The agreement includes China supplying rare earth minerals and the US easing restrictions on Chinese students, though final approval is still pending. Analysts noted that while trade-related risks have eased, uncertainty remains around the deal’s impact on global demand. Meanwhile, tensions with Iran persisted, with Tehran threatening US bases if nuclear talks fail, keeping pressure on supply. On the supply side, OPEC+ plans to increase output by 411,000 barrels per day in July, continuing its gradual unwinding of production cuts. However, US supply tightened as crude inventories fell by 3.64 million barrels last week, according to EIA data—well above the expected 2.5 million-barrel decline—signaling stronger demand or tighter supply conditions.

Trending Today

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.

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 4.0%

• Tensions between the US and Iran, with threats of supply disruptions, are raising concerns about oil availability, leading to price increases.
• Optimism regarding the US-China trade discussions and potential tariff reductions is enhancing expectations for higher energy demand from the top two global economies, aiding the oil price surge.
• The decline in US crude inventories, along with anticipated Federal Reserve rate cuts spurring economic growth and oil demand, is also contributing to the positive momentum in Brent Crude Oil prices.

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.

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.

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.

11.05.2025 - BRENT Commodity was up 5.1%

• Brent Crude Oil surged to an 8-week high above $67.5 per barrel, driven by several factors:
• Optimism surrounding US-China trade talks and concerns over potential supply disruptions due to tensions between the US and Iran contributed to the bullish movement.
• The drawdown in US crude inventories, coupled with OPEC+ plans to increase production, highlighted market tightness and the delicate balance between supply and demand.
• Geopolitical uncertainties, including the Russia-Ukraine conflict and the Iran nuclear deal, added to market jitters and supported oil prices.
• The market movement showcases how sensitive oil prices are to global events and supply-demand dynamics, emphasizing the need for investors to closely monitor geopolitical developments and production levels to make informed trading decisions.

12.05.2025 - BRENT Commodity was up 5.1%

• Brent Crude Oil saw a significant increase to $69.8 per barrel, marking a 4.3% surge. This rise was fueled by the positivity surrounding the initial trade agreement between the US and China, as stated by President Trump. This upbeat development raised expectations for heightened energy consumption from prominent global economies.
• Growing tensions with Iran threatening US bases in the event of failed nuclear talks added strain on the oil supply. On the other hand, OPEC+ announced plans to gradually boost production in July. Despite these conflicting situations, a notable decrease in US crude inventories indicated either strengthened demand or constrained supply conditions, further bolstering the upward trend in Brent prices.
• The confluence of favorable trade advancements, geopolitical pressures, and supply-side influences propelled Brent Crude Oil to reach an 8-week peak, underscoring the intricate interconnection of global occurrences on commodity markets.