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Brent Crude Oil Analysis: Iran Tensions, OPEC+ and Price Trends

Brent Crude oil prices recovered supported by potential "maximum pressure" on Iran by the US. OPEC+ maintained its current production policy, with a planned gradual increase in supply depending on market conditions. Technical analysis indicates Brent Crude Oil faced support at the 100-day moving average. Key support levels for Brent Crude Oil are identified at $76.35, $75.00, and $72.38, while resistance levels are at $77.68, $78.43, and $80.00.

04-02-2025 13:31 GMT by Zain Vawda

Oil Price Update - Brent Continues to Struggle as Technicals Offer Bulls Hope

Oil prices are struggling due to uncertainty around tariffs and their impact on global demand. Libya supply fears were alleviated as exports returned to normal after discussions with protesters. US inventories rose, but total US oil demand also increased, offsetting downward pressure on oil prices. From a technical analysis standpoint, Brent has tapped into a key area of support and formed a double bottom pattern.

29-01-2025 11:36 GMT by Zain Vawda