Brent trades near four-month lows
Brent quotes remain under pressure from fundamental factors despite an attempt to recover after a three-day decline. The rate currently stands at 65.59 USD. Discover more in our analysis for 2 October 2025.
Brent forecast: key trading points
- Brent quotes remain near their lowest levels in the past four months
- US commercial crude inventories rose by 1.79 million barrels last week
- Analysts warn of a high probability of a significant oversupply in the market by the end of the year
- Brent forecast for 2 October 2025: 63.55
Fundamental analysis
Brent prices resumed growth after a three-day decline, with buyers holding the key support level at 65.65 USD. Quotes remain close to four-month lows as market pressure persists due to expectations of increased output from OPEC countries, which raises risks of oversupply.
The negative backdrop was exacerbated by US data: commercial crude inventories rose by 1.79 million barrels last week to 416.5 million barrels, while the consensus forecast expected an increase of only 1.5 million barrels.
As a result, analysts are warning of a high probability of a significant oversupply in the market by the end of the year, which could exert additional pressure on prices and limit the positive forecast for Brent prices today.
Brent technical analysis
Brent quotes continue to move within a descending channel, with the current recovery remaining capped near the local resistance level of 66.00 USD. The chart shows prices staying below the Moving Average and the upper boundary of the channel, confirming continued selling pressure.
The Brent forecast for today suggests a bearish scenario with a breakout below the 65.00 USD support level and a decline towards 63.55 USD.
An additional signal of bearish momentum comes from the Stochastic Oscillator, as indicator values exited oversold territory and are now rising towards the descending resistance line.
Summary
Brent analysis for today indicates continued pressure from oversupply, which limits growth potential and raises the risk of a breakout below the 65.00 USD support level with a subsequent decline towards 63.55 USD.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.