# Bullish forecast for oil as Brent touches $80 per barrel

> Brent rose more than 2% to above $80 a barrel on Monday, reaching its highest level since November 2014, while WTI rose 1.85% to $72.09. Analysts expected further gains as US sanctions on Iranian oil exports approach. OPEC and non-OPEC members ruled out an additional output increase at their Algiers meeting.

- Date: 2018-09-24 · published 2018-09-24T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/63237-bullish-forecast-for-oil-as-brent-touches-80-per-barrel
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

OPEC's decision to hold output leaves Iranian supply losses unoffset, supporting higher crude and diesel costs for feed transport and processing. Biofuel demand could also gain support from higher petroleum prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2018-04-15 | [Bullish forecast for oil prices as Middle East tensions rise](https://feedsoft.ai/events/65725-bullish-forecast-for-oil-prices-as-middle-east-tensions-rise.md) | +2.0% | +6.0% |
| BRENT | 2022-03-03 | [Oil jumps, Brent above $116 per barrel as supply issues persist](https://feedsoft.ai/events/6282-oil-jumps-brent-above-116-per-barrel-as-supply-issues-persist.md) | -1.8% | -1.2% |
| BRENT | 2026-09-10 | [Brent crude oil nears $104 per barrel: Here's why](https://feedsoft.ai/events/17666-brent-crude-oil-nears-104-per-barrel-here-s-why.md) | +10.5% | +6.7% |
| BRENT | 2024-04-12 | [Crude oil prices today: WTI, Brent rise as Israel braces for Iran attack](https://feedsoft.ai/events/30930-crude-oil-prices-today-wti-brent-rise-as-israel-braces-for-iran-attack.md) | -3.2% | -7.8% |
| BRENT | 2026-07-23 | [Oil prices surge to $100 per barrel after Red Sea attacks](https://feedsoft.ai/events/9927-oil-prices-surge-to-100-per-barrel-after-red-sea-attacks.md) | -9.5% | -7.3% |
| WTI | 2018-04-15 | [Bullish forecast for oil prices as Middle East tensions rise](https://feedsoft.ai/events/65725-bullish-forecast-for-oil-prices-as-middle-east-tensions-rise.md) | +1.4% | +4.9% |
| WTI | 2022-03-03 | [Oil jumps, Brent above $116 per barrel as supply issues persist](https://feedsoft.ai/events/6282-oil-jumps-brent-above-116-per-barrel-as-supply-issues-persist.md) | -1.7% | -2.6% |
| WTI | 2026-09-10 | [Brent crude oil nears $104 per barrel: Here's why](https://feedsoft.ai/events/17666-brent-crude-oil-nears-104-per-barrel-here-s-why.md) | +6.6% | -4.3% |

## Sources

- gulfnews.com: https://gulfnews.com/business/energy/bullish-forecast-for-oil-as-brent-touches-80-per-barrel-1.2282140

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