# What's in Store for the Oil and Gas Markets in Q4? - FocusEconomics

> Crude prices swung by more than $10 per barrel in recent weeks, with oil falling in Q3 as investors lost faith in OPEC+ market management. Israel-Iran conflict risk has been the main focus, with crude surging in early October. Tensions within OPEC+ and slowing Chinese oil demand add to the outlook uncertainty.

- Date: 2024-10-30 · published 2024-10-30T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8119-what-s-in-store-for-the-oil-and-gas-markets-in-q4-focuseconomics
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Geopolitical risk to crude supply supports prices, while OPEC+ output increases and weaker Chinese demand weigh on them. The net direction for crude remains uncertain heading into Q4.

## Read by commodity

- WTI: neutral
- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-06-24 | [What influences crude oil more? US bombs or Iran's silent allies](https://feedsoft.ai/events/9610-what-influences-crude-oil-more-us-bombs-or-iran-s-silent-allies.md) | -4.6% | -1.6% |
| WTI | 2018-07-13 | [Oil falls for second week as supply concerns ease](https://feedsoft.ai/events/10098-oil-falls-for-second-week-as-supply-concerns-ease.md) | -1.2% | -5.0% |
| WTI | 2026-03-09 | [Markets seesaw over oil price fears as Trump says war to be ‘ended soon’ - The Washington Post](https://feedsoft.ai/events/6634-markets-seesaw-over-oil-price-fears-as-trump-says-war-to-be-ended-soon-the.md) | +8.5% | +25.0% |
| WTI | 2021-06-30 | [Oil steady, traders on sidelines as OPEC+ talks drag on - The Globe and Mail](https://feedsoft.ai/events/46755-oil-steady-traders-on-sidelines-as-opec-talks-drag-on-the-globe-and-mail.md) | -1.2% | -1.0% |
| WTI | 2018-07-13 | [Oil rises but declines for the week as supply concerns ease](https://feedsoft.ai/events/10095-oil-rises-but-declines-for-the-week-as-supply-concerns-ease.md) | -1.2% | -5.0% |
| BRENT | 2025-06-24 | [What influences crude oil more? US bombs or Iran's silent allies](https://feedsoft.ai/events/9610-what-influences-crude-oil-more-us-bombs-or-iran-s-silent-allies.md) | -6.9% | -3.2% |
| BRENT | 2018-07-13 | [Oil falls for second week as supply concerns ease](https://feedsoft.ai/events/10098-oil-falls-for-second-week-as-supply-concerns-ease.md) | -1.4% | -2.7% |
| BRENT | 2026-03-09 | [Markets seesaw over oil price fears as Trump says war to be ‘ended soon’ - The Washington Post](https://feedsoft.ai/events/6634-markets-seesaw-over-oil-price-fears-as-trump-says-war-to-be-ended-soon-the.md) | +9.5% | +25.6% |

## Sources

- focus-economics.com: https://www.focus-economics.com/blog/oil-and-gas-market-q4-2024/

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