Brent on the rise: declining oil inventories and US tariffs support growth
After another upward wave, Brent prices are forming a correction and trading near the 64.40 USD level. Find out more in our analysis for 22 January 2026.
Brent forecast: key trading points
Weekly US crude oil inventories according to the American Petroleum Institute (API): previously at 5.270 million, currently at 3.040 million barrels
US crude oil stocks change: previously at 3.391 million, projected at -1.000 million
Brent forecast for 22 January 2026: 66.00
Fundamental analysis
The Brent fundamental analysis for today, 22 January 2026, takes into account that Brent prices are forming an upward wave and trading near 64.40 USD per barrel.
According to the API, weekly US crude oil inventories declined to 3.040 million barrels in the latest reporting period, down from the previous value of 5.270 million. The reduction in inventories increased demand and supported oil prices, with quotes continuing to rise with corrections since 16 December 2025.
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