Brent oil prices fell to the 63.00 USD area amid a rise in US crude oil inventories according to the EIA data. Discover more in our analysis for 6 November 2025.
Brent forecast: key trading points
- Market focus: US crude oil inventories from the Energy Information Administration (EIA) rose by 5.20 million barrels, while a decline of 2.50 million barrels was expected
- Current trend: trading within a range
- Brent forecast for 6 November 2025: 63.30 or 65.00
Fundamental analysis
Brent quotes are declining as yesterday’s data showed that US crude oil inventories rose by more than 5 million barrels last week, marking the largest increase since July. Meanwhile, US gasoline inventories dropped by nearly 5 million barrels to a three-year low.
The growth in US crude oil inventories added to pressure on oil prices, as production rates continue to rise among both OPEC+ members and non-allied producers, fuelling concerns about a global oil supply glut in world markets.
Brent technical analysis
On the H4 chart, Brent is moderately declining within a limited sideways range of 63.30–65.00 USD. The direction of the breakout from this price range will determine the future movement of the asset.
The short-term Brent price forecast suggests growth towards 65.00 USD if the bulls hold above 63.30 USD. However, if the bears confidently push prices below 63.30 USD, a decline towards the 61.50 USD support level is possible.
Summary
Brent dipped towards support near 63.00 USD amid rising US crude oil inventories. Market participants fear an increasing global oil oversupply.
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