Brent poised for further growth after rebound from EMA-65

Brent quotes remain highly volatile amid escalating Middle East tensions, with prices currently at 72.92 USD. Find out more in our analysis for 17 June 2025.

Brent forecast: key trading points

• Geopolitical tensions persist due to the conflict between Israel and Iran
• Potential escalation could disrupt energy supplies and key trade routes
• Brent forecast for 17 June 2025: 78.25

Fundamental analysis

Brent prices are correcting for the second consecutive session, with trading remaining mixed and volatile. Buyers have not yet overcome the key resistance at 76.00 USD, despite the prevailing bullish momentum.

Market sentiment remains tense amid the intensifying conflict between Israel and Iran. A potential escalation threatens energy supply routes and vital trade channels, which could sharply lift Brent prices. Traders view the main risk as a possible blockade of the Strait of Hormuz by Iran, which could propel prices towards 120.00 USD per barrel under the Brent price forecast.

However, if the conflict does not escalate beyond current limits, price gains are likely to remain limited, holding near today’s levels.

Brent technical analysis

Brent prices are climbing after rebounding from the EMA-65, maintaining a strong bullish impulse. According to today’s Brent forecast, a bearish correction to the channel’s lower boundary remains possible before the uptrend continues towards the target of 78.25 USD. The upward move is confirmed by a rebound from the support line on the Stochastic Oscillator, where the %K and %D signal lines have also crossed. A breakout above the neckline of the Head and Shoulders reversal pattern with consolidation above 74.65 USD will further validate the bullish scenario.

Summary

Fundamental analysis highlights the ongoing risk of Brent price increases amid geopolitical tensions. Brent technical analysis confirms the bullish momentum, with an upside target at 78.25 USD.