Brent crude prices are falling again, sliding towards 64.90 USD after a 4% rally in the previous session. Find more details in our analysis for 10 April 2025.
Brent forecast: key trading points
- Brent gained 4% in the previous session but has now stalled
- Trump’s temporary tariff compromise supported prices, but the outlook remains uncertain, potentially curbing growth
- Brent forecast for 10 April 2025: 64.80 and 64.00
Fundamental analysis
Brent prices are hovering around 64.90 USD. On Wednesday, prices rose by over 4% as investor sentiment improved following the US decision to pause tariff hikes for most countries.
US President Donald Trump announced a 90-day period during which import tariffs would be lowered to 10% in an effort to support ongoing trade talks. The move helped reduce fears of a full-blown trade war, which could trigger a global recession and suppress oil demand.
However, markets remain cautious as China was excluded from this deal, and its tariff rate was raised to 125%.
The latest data from the US Department of Energy showed a larger-than-expected drop in gasoline and distillate inventories, helping offset a moderate rise in crude oil stockpiles.
The Brent forecast is cautious.
Brent technical analysis
On the H4 chart, Brent could recover to 71.91 if it consolidates above the 65.80 level.
The baseline scenario expects consolidation around 64.80, followed by a possible decline to 64.00.
Summary
Brent has recouped part of its previous losses and is now correcting slightly. The market is uncertain, with tariffs remaining a concern, though less alarming than before. The Brent forecast for today, 10 April 2025, allows for a recovery attempt towards 65.80. However, if momentum fades, sellers may push prices down to 64.00 through 64.80.
Source: Roboforex
