Brent Crude Prices

30-01-2026 - Over the past month, Brent crude oil prices have experienced a significant rise, climbing from $61.92 per barrel to $70.71 per barrel. This upward movement indicates a strengthening market for this commodity, potentially driven by changes in supply-demand dynamics or geopolitical factors affecting the oil industry.

The forecast predicts a further increase to $72.39 per barrel, a 2.4% rise from the current $70.71 per barrel. While this suggests a slight upward trend, the associated risk includes potential volatility in raw material prices. However, the overall change is expected to be minimal, with limited impact anticipated.

The current forecast highlights upward price pressure on raw materials, primarily influenced by technical data, with a $1.88 per barrel impact. Key factors contributing to this pressure include the Futures Curve and Calendar Effects. Nonetheless, conflicting signals from demand and supply data suggest potential downward pressure, indicating a degree of market uncertainty.

In contrast, the U.S. Energy Information Administration (EIA) projects that Brent crude oil prices will average $55 per barrel in the first quarter of 2026 and remain at that level throughout the year. This projection suggests a downward trend, which is at odds with the forecast's prediction of an increase to $72.39 per barrel. This divergence highlights the uncertainty and complexity of the market outlook.