Brent prices have reached their highs and may extend gains towards 68.50 USD. Discover more in our analysis for 10 June 2025.
Brent forecast: key trading points
- Brent has surpassed its May peak
- OPEC+ increases oil production
- Brent forecast for 10 June 2025: 68.50
Fundamental analysis
Fundamental analysis of Brent for today, 10 June 2025, takes into account that prices have renewed their May highs, climbing to 66.90 USD per barrel ahead of the results of another round of negotiations between Washington and Beijing. Optimism surrounding the resolution of trade tensions fuels demand for commodities and reinforces price momentum.
Iran is preparing a counterproposal for the US regarding the nuclear deal. Against this backdrop and following the breakout above the recent high, Brent shows resilience despite ongoing uncertainty.
The Brent forecast also takes into account increased OPEC+ production, with Iraq lagging, and Saudi Arabia and the UAE continuing to ramp up output. However, caution remains warranted – an oversupply by the end of 2025 could weaken the market and trigger a correction in Brent prices.
Brent technical analysis
Having tested the lower Bollinger Band, Brent prices formed a Hammer reversal pattern on the H4 chart. They currently continue their upward momentum following the signal from the pattern.
The Brent price forecast for 10 June 2025 sets the next upside target at 68.50 USD. A breakout above the resistance level could open the way for a stronger upward wave.
Nevertheless, an alternative scenario is possible, where Brent quotes could correct towards 66.00 before resuming their upward trajectory.
Summary
The US and China continue efforts to resolve their trade disputes. In this context, Brent may maintain its bullish momentum towards the 68.50 USD level.
Source: Roboforex
