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.
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