# Oil prices remain volatile amid uncertainty arising from geopolitical conflict

> The World Bank reports that oil averaged $78 a barrel in December, down from $94 in September, with weak global activity and record US output weighing on prices. It forecasts Brent averaging $81 in 2024, with upside risks from OPEC+ cuts and Middle East supply disruptions.

- Date: 2024-01-04 · published 2024-01-04T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/32316-oil-prices-remain-volatile-amid-uncertainty-arising-from-geopolitical-conflict
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A modest 2024 price recovery forecast implies moderately higher energy costs for feed producers, with geopolitical risks adding upside.

## Read by commodity

- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-01-09 | [How geopolitics will ripple through oil prices in 2025 \| Goldman Sachs](https://feedsoft.ai/events/26688-how-geopolitics-will-ripple-through-oil-prices-in-2025-goldman-sachs.md) | +7.8% | -2.7% |
| BRENT | 2022-03-15 | [Hedge funds slash oil positions amid extreme volatility](https://feedsoft.ai/events/5998-hedge-funds-slash-oil-positions-amid-extreme-volatility.md) | +9.5% | -9.6% |
| BRENT | 2020-09-30 | [Arab News \| Oil prices ‘likely to remain static despite output cuts’](https://feedsoft.ai/events/51279-arab-news-oil-prices-likely-to-remain-static-despite-output-cuts.md) | +3.1% | -0.6% |
| BRENT | 2024-12-31 | [Baht, oil prices expected to face volatility in 2025: NESDC](https://feedsoft.ai/events/27244-baht-oil-prices-expected-to-face-volatility-in-2025-nesdc.md) | +4.2% | +4.6% |
| BRENT | 2025-09-30 | [From geopolitics to rate cuts: What’s shaping commodities markets?](https://feedsoft.ai/events/22764-from-geopolitics-to-rate-cuts-what-s-shaping-commodities-markets.md) | -3.2% | -4.3% |

## Sources

- blogs.worldbank.org: https://blogs.worldbank.org/en/opendata/oil-prices-remain-volatile-amid-uncertainty-arising-geopolitical-conflict

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.