Brent Crude Oil Hits 2.5-Month High in Early 2025

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The XBR/USD chart shows a strong rally in Brent crude oil prices on January 2–3, breaking above $76.20 for the first time since mid-October.

According to Reuters, this surge was driven by:

  • Economic stimulus measures in China, including wage increases for public servants and a significant boost in funding through treasury bonds.
  • Forecasts of a colder winter in the US and Europe, potentially increasing demand for oil products.


According to technical analysis of the XBR/USD chart, the price broke out of a consolidation pattern (highlighted in blue) that had confined it in late 2024.

However, signs of waning bullish momentum are emerging:

  • At point B, the price only slightly surpassed the previous high at point A before reversing downward, indicating buyer weakness.
  • A bearish divergence is forming between the RSI indicator and points A and B.

These signals suggest that Brent crude oil prices could be vulnerable to a correction, potentially targeting the lower blue trendline as a support level.