Brent Oil Drops, Pressure from Supply and Weak Demand
The global oil market, including Brent crude prices, has experienced a decline in recent times due to fundamental changes in supply and demand. Recent data highlights concerns about a surge in oil supply exceeding demand, as several producing countries have decided to increase production and ease supply controls.
Furthermore, industrial activity data in key markets such as China and Europe indicate a slowdown in energy demand. Projections from international institutions even predict a supply surplus that will continue into 2026, further pressuring Brent futures prices.
The oil price at the time of this analysis is $67.11
- Buy if the price moves below $67.23
- Sell if the price moves below $67.02
Resistance 2: $67.57
Resistance 1: $67.36
Support 1: $66.94
Support 2: $66.73
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider the influence of fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id