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 fluctuations in the oil market reveal a sector grappling with significant pressures, exacerbated by geopolitical and economic factors. Analysts report that oil prices have plummeted by nearly 20% this year amid a broader risk-averse sentiment driven by U.S. President Donald Trump’s trade policies. These policies have not only impacted investor confidence but also prompted brokerages to reassess their outlooks on oil prices. Notably, firms such as Westpac and Citi are now targeting an oil price range between $60 to $65 per barrel, while JPMorgan has suggested the possibility of prices dipping into the $50 range.

Despite a tumultuous environment, the OIL currency has exhibited some resilience. The OIL to USD pair recently reached a 7-day high of 69.11, which is 3.6% above its 3-month average of 66.68. This currency pair has seen a highly volatile trading range of 31.1%, bouncing between 60.14 and 78.85 over the last few months.

Similarly, the OIL to GBP pair is also at a 7-day high of 50.64, 1.6% above its 3-month average. This pair has demonstrated volatility as well, ranging from 45.23 to 58.55. The OIL to JPY rate mirrors this trend, also reaching a 7-day high at 9920, which is about 3% above its 3-month average. It has traded within a substantial 32.7% range, reflecting the broader instability in the oil market.

While OIL to EUR remains steady near its 3-month average at 58.54, it has experienced a significant trading range between 53.15 and 68.58, indicating the underlying volatility permeating through the market. The consistent rise in oil demand, historically aligned with GDP growth, might soon face challenges from emerging technologies disrupting traditional consumption patterns.

The oil market is undoubtedly at a crossroads, balancing between historical demand metrics and modern economic pressures. As these developments unfold, businesses and individuals engaged in international transactions should closely monitor these currency movements and updates, as they are pivotal in determining the best times for conversions and hedging strategies to mitigate risks associated with currency fluctuations.

 

Brent Crude Oil to US dollar - OIL/USD Trend

 
OIL to USD is at 7-day highs near 69.11, 3.6% above its 3-month average of 66.68, having traded in a highly volatile 31.1% range from 60.14 to 78.85
|
 
1 OIL =
68.86We compare provider deals to this wholesale mid-market rate. Read more
USD
 
+2.6%
 
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...