Brent continues to rise after falling

The Brent forecast for 18 February 2025 appears rather optimistic, with prices likely to continue their ascent towards 76.50 USD. Discover more in our analysis for 18 February 2025.

Brent forecast: key trading points

• Brent prices continue to correct after a decline
• A speech by Federal Reserve Board Vice Chair for Supervision Michael S. Barr
• Brent forecast for 18 February 2025: 76.50 and 74.20

Fundamental analysis

Fundamental Brent analysis for today, 18 February 2025, takes into account that oil prices are slightly rising.

According to the New York Mercantile Exchange (NYMEX), April Brent crude futures rose by 0.70 USD, reaching 75.40 USD per barrel.

Brent prices are rising amid persistent geopolitical tensions and reports of a potential delay in increasing oil output by OPEC+ countries. Earlier, on 14 February, April Brent crude futures on the London ICE Futures exchange stood at 75.48 USD per barrel, up 0.6% from the previous day.

Brent forecasts for 2025 also indicate price stabilisation. The Energy Information Administration of the US Department of Energy raised the forecast for average Brent prices to 74.50 USD per barrel as the first quarter is expected to see a deficit due to continued production restrictions under the OPEC+ agreement.

Today, Federal Reserve Board Vice Chair for Supervision Michael S. Barr will deliver a speech, which may impact Brent quotes in the short term.

Brent technical analysis

Having tested the lower Bollinger band, Brent prices formed an Engulfing reversal pattern on the H4 chart. At this stage, they continue their upward trajectory following the pattern signal. Since the quotes are testing the upper boundary of the descending channel, they could break above the resistance level and form an upward wave.

The Brent forecast for 18 February 2025 is rather optimistic and points to the next resistance at 76.50 USD as an upside target. A breakout above this level could pave the way for a more substantial upward movement.

However, an alternative scenario is possible, where Brent prices could pull back to the support level and plunge to 74.20.

Summary

Along with technical analysis, Michael S. Barr’s speech and Brent crude futures growth suggest a rise in oil prices to 76.50 USD.