Outlook
Oil-linked currencies stay tied to Brent strength from geopolitical risk around Iran and Venezuela. With Brent as the forecast benchmark, moves in Brent drive the OIL currency. If tensions ease, gains may fade; if not, upside remains. Headlines and policy signals will keep the outlook sensitive.
Key drivers
Iran/Venezuela risks continue to lift Brent markets.
Talk of U.S. action supports higher oil near-term, keeping upside risk intact.
The EIA now uses Brent for forecasts, tying oil outlook to Brent levels more closely.
Global demand signals and OPEC+ policy will shape price direction in coming weeks.
Range
Brent Crude OIL/USD near 72.53; range 59.04–72.53.
OIL/EUR near 61.38; range 50.26–61.38.
OIL/GBP near 53.79; range 43.98–53.82.
OIL/JPY near 11,319; range 9,139–11,327.
What could change it
A de-escalation could trim Brent and soften the OIL currency.
A policy surprise affecting supply could move Brent and the FX.
A change in growth or demand data could shift price dynamics.
