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. Today, the market experienced a strong bullish movement.

Why is Brent Crude Oil going up?

BRENT commodity is up 5.1% on Apr 10, 2025 8:43

• 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.

BRENT Price Chart

BRENT Technical Analysis

BRENT News

Brent Crude Oil Pull Back Below $64

Brent crude oil futures dropped over 2% to below $64 per barrel on Thursday, after a 4.2% gain in the previous session, as escalated trade tensions between the US and China reignited demand concerns. President Trump increased tariffs on China to 125%, just a day after a 104% hike took effect. While he paused new tariffs on other countries for 90 days, the sharp escalation with China, the world’s top oil importer, sparked worries about weaker fuel demand. China raised its tariffs on US goods to 84% and is expected to unveil stimulus measures to support sectors like housing and consumption. Meanwhile, OPEC+ agreed to speed up output increases, raising fears of oversupply. Adding to market uncertainty, the Keystone pipeline from Canada remains shut after a spill in North Dakota, with no restart timeline confirmed.

Brent Slips on Escalating US-China Tensions

Brent crude oil futures slipped toward $64 per barrel on Thursday, trimming a more than 4% rebound from the previous session, weighed down by escalating US-China trade disputes. On Wednesday, President Trump raised the tariff on Chinese imports to 125%, effective immediately, just hours after China increased the duty on American goods to 84%. These moves heightened concerns about oil demand from both major economies, overshadowing a broader de-escalation in trade tensions, as the US reduced import duties to 10% for a 90-day period to support ongoing trade negotiations with most countries. Adding to market concerns, OPEC+ recently agreed to raise production in May, increasing supply in an already oversupplied market. Meanwhile, the latest EIA report showed a larger-than-expected draw in gasoline and distillate inventories, helping to offset a modest rise in crude stockpiles.

Brent Crude Rebounds Below $65

Brent crude oil futures rebounded sharply on Wednesday, climbing more than 4% to trade above $65 per barrel as recession fears eased and the outlook for energy demand improved. The recovery followed President Trump’s decision to suspend reciprocal tariffs for most countries over the next 90 days, a move that calmed markets and revived appetite for risk assets. While China remains excluded from the suspension—with tariffs on its exports now raised to 125% in response to its latest round of retaliation—the broader de-escalation in trade tensions helped restore confidence across commodity markets. Further supporting the rally was the latest EIA report which revealed a larger-than-expected draw in gasoline and distillate inventories, helping to offset a modest rise in crude stockpiles. Meanwhile, remarks from OPEC+ officials hinting at potential delays to previously announced production increases helped temper oversupply concerns and reinforced the rebound in prices.

Oil Slumps to 4-Year Low

Brent crude oil futures tumbled 6% toward $59 per barrel on Wednesday, their lowest since February 2021, as fears of a global slowdown hit energy markets. The drop came after the US and China escalated their trade war, with President Trump enforcing steep new tariffs on dozens of countries, including a 104% duty on many Chinese imports. In response, China sharply raised its own tariffs on US goods to 84% starting April 10. At the same time, OPEC+ decided to ramp up oil production more quickly than expected, increasing the risk of oversupply. Meanwhile, data from the American Petroleum Institute industry group showed US crude inventories fell by 1.1 million barrels in the week ended April 4, compared with expectations for a build of about 1.4 million barrels.

Brent Drops Further on Tariff Concerns

Brent crude oil futures dropped 4% to below $61 per barrel on Wednesday, extending losses to a fifth consecutive session amid fears that U.S. tariffs might lead to a global recession and hurt demand. President Donald Trump’s outsized tariffs will go into effect later today, including an expected 104% tariff on China, the world’s top oil importer. While the White House has expressed a willingness to negotiate with trade partners, China has vowed to “fight to the end,” signaling a potentially prolonged trade dispute. Since April 2, Brent has shed more than 19% of its value, pressured by a combination of weakening demand outlooks and rising production levels. Elsewhere, API data showed US crude oil inventories fell by 1.1 million barrels last week, reversing the previous week’s 6-million-barrel build.

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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.

03.03.2025 - BRENT Commodity was down 5.3%

• The bearish movement in Brent Crude Oil today can be attributed to the unexpected announcement by OPEC+ countries to increase oil production by a significant amount, leading to oversupply concerns in the market.
• President Trump's announcement of new tariffs, sparking fears of a global trade war, also contributed to the downward pressure on oil prices as investors worried about potential economic slowdown and reduced fuel demand.
• Additionally, the unexpected rise in US crude inventories, driven by a surge in Canadian imports, added to the bearish sentiment in the oil market, further weighing on prices.
• Overall, the combination of increased production levels, trade war uncertainties, and inventory build-up led to a sharp decline in Brent Crude Oil prices today.

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.