Brent crude rises 1.00% intraday, currently at $66.69 per barrel.

Brent crude rises 1.00% intraday, currently at $66.69 per barrel.

Brent crude oil prices surged by 1.00% intraday, reaching $66.69 per barrel as of September 12, 2025. The increase follows a period of market volatility driven by geopolitical tensions and changes in production policies. Key factors influencing the price movement include the anticipated OPEC+ production increases, China's stockpiling, and potential global supply surpluses.

According to a report by Citi analysts, Brent crude oil prices are expected to fall to $60 per barrel by year-end and average $62 per barrel between the second and fourth quarters of 2026 . The bank attributed this prediction to the unwinding of additional voluntary cuts by OPEC+ and the potential build-up of global liquids inventories. By the end of 2026, Citi estimates that global liquids inventories could climb to 10.9 billion barrels, equivalent to 103 days of forward demand cover.

Oil prices have been relatively stable today, with Brent crude trading at $68.33 per barrel and West Texas Intermediate at $64.39 per barrel . Market participants are closely watching the U.S. Federal Reserve's latest interest rate decision, which is expected to bring the interest rate to between 4% and 4.25%, the lowest since 2022. The interest rate cut may also set the stage for a series of rate cuts in the coming months, potentially impacting global economic growth and oil demand.

While the immediate outlook for Brent crude prices remains uncertain, the long-term projections suggest a downward trend, influenced by increased production and potential stockpiling. However, geopolitical risks and potential disruptions could lead to price volatility. Investors and financial professionals should stay informed about these factors and adjust their strategies accordingly.