Crude Oil Market Update – Brent Prices Edge Higher After Weekly Volatility
Crude oil futures (Brent) recovered slightly on Friday, with the July contract closing at
USD 64.78 per barrel, up 0.52% on the day. However,
prices remain under pressure due to macroeconomic uncertainties and inventory concerns.
📊 ICE Brent Crude Futures – Closing Summary (23 May 2025)
🌍 Global Energy Market Overview
- 📉 Earlier in the week, crude prices dropped to multi-week lows on rising U.S. crude inventories and continued concerns over slowing global growth.
- 🇨🇳 China’s oil demand showed signs of recovery, offering some support.
- 📦 The U.S. Energy Information Administration (EIA) reported a larger-than-expected stock build.
- 🛢️ OPEC+ output compliance remains a wildcard — potential policy updates expected in early June.
🔍 Key Fundamentals
- ⛽ Gasoline demand in the U.S. improved slightly heading into Memorial Day weekend.
- 🛢️ WTI and Brent spreads narrowed, hinting at rebalancing between regional markets.
- 🌀 No major disruptions from weather events have been reported — hurricane season begins in June.
📈 Technical Outlook
- Support at USD 63.00, resistance at USD 65.50.
- RSI suggests neutral territory after last week’s sell-off.
- Market participants are waiting for the next round of inflation data and Fed signals.
🔮 3-Day Price Forecast (Brent, July 25)
📌
Exchange rate used: 1 USD = 0.925 EUR
🧭 Conclusion & Outlook
🟡 Brent crude shows
short-term resilience but lacks strong upward momentum.⚠️ Rising inventories and demand uncertainty remain
key risks.📅 Next market-moving events:
OPEC+ meeting in June, U.S. inventory reports, and macroeconomic data.
