Switch .com Best Exchange Rates .com Best Exchange Rates .com Best Exchange Rates
BER

Brent Crude Oil Markets

OIL Currency Update - Our review of Brent Crude Oil forecasts and news plus charts and historic rates. Check OIL Trends over various time periods.

 

The recent performance of the oil market has been marked by significant volatility and a noticeable downturn in prices. Analysts note that crude oil has fallen by approximately 20% this year due to geopolitical tensions and an aggressive push from the Trump administration aimed at lowering energy prices. This trade agenda has impacted investor sentiment, prompting a withdrawal of capital from oil and other commodities.

Current price forecasts from major firms such as Westpac and Citi indicate that the oil price is likely to stabilize within the range of $60 to $65 per barrel, while JPMorgan has cautioned that prices could dip into the $50s. This downward revision in expectations reflects a broader concern over oil's role in the economy amidst shifting demand patterns influenced by new technologies.

The oil to USD exchange rate currently stands at 69.52, which is 3.3% above its three-month average of 67.33. The rate has experienced substantial fluctuation, trading within a 31.1% range from a low of 60.14 to a high of 78.85. Similarly, oil against the Euro (59.81 and 1.8% above the average) and the pound (51.75 and 3.5% above the average) showcases a trend of increased value relative to their respective averages while also displaying significant volatility.

Notably, the oil to JPY rate at 10326 is up 5.9% compared to its three-month average of 9748, with fluctuations reaching a staggering range of 32.7% from 8642 to 11470. The ongoing changes in these currency pairs reflect the broader dynamics of the oil market and underscore the economic importance of crude oil, which continues to play a vital role despite the push for sustainable energy alternatives.

In summary, the current situation in the oil market indicates a complex interplay of geopolitical factors, shifts in demand, and drastic price adjustments, making it essential for businesses and individuals engaged in international transactions to stay informed on these developments to make cost-effective decisions.

 

Brent Crude Oil to US dollar - OIL/USD Trend

 
OIL to USD at 69.52 is 3.3% above its 3-month average of 67.33, having traded in a highly volatile 31.1% range from 60.14 to 78.85
|
 
1 OIL =
69.31We compare provider deals to this wholesale mid-market rate. Read more
USD
 
+1.2%
 
Track Rate

View My Rate Tracker

   
 

Compare & Save on Exchange Rates

Exchange rates can vary significantly between banks and currency exchange providers, so it's important to compare rates from different sources before making a conversion.

The below table makes it easy to calculate and compare the Total Cost you are being charged on currency rates and the possible savings of using a foreign exchange provider rather than your bank.

 

Loading exchange rates...