Brent oil prices are consolidating around 66.72 USD, with the phase of extreme volatility being over. Discover more in our analysis for 26 June 2025.
Brent forecast: key trading points
- Brent has reduced its price swings, settling into a narrow range
- The Middle East factor remains relevant, while focus also shifts to inventory data
- Brent forecast for 26 June 2025: 66.05
Fundamental analysis
Brent prices hold steady at 66.72 USD. While the Middle East remains a relevant theme, it no longer dominates market sentiment. Prices received support from Donald Trump’s statements about maintaining maximum pressure on Iran, including oil export restrictions.
At the same time, Trump hinted at a possible relaxation of oversight to help revive Iran’s economy and announced upcoming talks with Iranian representatives. He also expressed support for China, one of Iran’s largest oil buyers, to continue importing Iranian crude.
With the ceasefire between Iran and Israel still holding, markets are closely monitoring any further geopolitical developments.
US inventory data provided additional support to oil prices. Crude stocks fell for the fifth consecutive week, dropping by 5.84 million barrels to the lowest seasonal level in 11 years. Cushing inventories also hit their lowest point since February.
Attention now turns to the upcoming OPEC+ meeting on 6 July, where the group will determine production policy for August. Russia may support a supply increase if the group sees it as necessary.
The Brent forecast is cautious.
Brent technical analysis
On the H4 chart, Brent forms a short-term consolidation range between 66.05 and 68.93. After this week’s wide swings, the current range appears modest.
If prices move towards the lower boundary, they could head down to 65.85 and lower.
Should prices rise towards the upper boundary, the next target would be recovery towards the 70.00-72.00 area. This, however, would likely require more time to develop.
Summary
Brent quotes have moved into a sideways range, no longer experiencing the sharp volatility seen earlier. The Brent forecast for today, 26 June 2025, expects prices to remain flat until a new market catalyst emerges.
Source: Roboforex
