Brent prices stuck in a sideways range

Brent quotes show moderate growth, rising to the 63.00 USD area despite an increase in US crude oil inventories according to EIA data. Discover more in our analysis for 4 December 2025.

Brent forecast: key trading points

• Market focus: US crude oil inventories rose by 0.57 million barrels last week
• Current trend: moving within a sideways range
• Brent forecast for 4 December 2025: 65.00 or 61.00

Fundamental analysis

Brent prices climbed to 63.00 USD per barrel on Thursday, extending gains from the previous session. The move was supported by Ukrainian attacks on Russian oil infrastructure and stalled peace negotiations, which reduced expectations of a recovery in Russian supply.

The US has also increased threats against Venezuela’s oil sector, adding to the geopolitical risk premium. However, crude prices remain capped by weak demand and potential oversupply. This is confirmed by EIA data showing a 0.57 million barrel increase in US crude inventories last week, along with rising gasoline and distillate stocks.

Brent technical analysis

On the H4 chart, Brent is trending upwards within a broad sideways range of 61.00–65.00 USD. The Alligator indicator has turned upwards, signalling that the bullish movement may continue.

The short-term Brent forecast suggests a rise towards 65.00 USD if buyers gain a foothold above 63.50 USD. Conversely, if sellers reverse prices downwards, a correction towards the 61.00 USD support level is possible.

Summary

Brent prices show moderate growth, rising to the 63.00 USD area. According to the latest EIA report, US crude oil inventories increased by 0.57 million barrels last week.

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