From Investing.com: 2025-04-03 01:28:00

Brent Oil prices are volatile due to conflicting factors like potential tariffs on Russian and Iranian oil supporting prices, while trade war fears and increased OPEC+ production weigh on them. Markets are closely watching the OPEC+ meeting on April 5th to review production plans. Prices steadied today after a 3% gain.

Looking ahead, President Trump’s tariff proposals and inventory data will influence oil prices. Analysts estimate a 2.1 million barrel decrease in U.S. crude inventories. The Oil Volatility Index (OVX) shows market sentiment, with a spike expected due to ‘liberation day tariffs’ adding to uncertainties.

Technical analysis of Brent Crude shows a break above the 100-day MA with a 3% gain. A pullback towards $73.84 is likely, with $71.26 and $70.00 as support levels. Resistance is at $75.74 and $76.46. Market focus on Iran and Russian oil tariffs could offset some negativity with supply concerns.



Read more at Investing.com: Brent Oil Turns Volatile After Crossing 100-Day Moving Average