# Brent crude may find support at $70-$90 as global oil inventories rebuild: Saxo Bank

> Saxo Bank strategist Ole Hansen expects Brent crude to settle in a $70–$90-per-barrel range if tensions in West Asia ease, above the $60–$70 range seen before the conflict. He said restored supplies could reduce prices, while rebuilding global oil inventories would help limit the decline.

- Date: 2026-11-08 · published 2026-11-08T12:08:09.126Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/87397-brent-crude-may-find-support-at-70-90-as-global-oil-inventories-rebuild-saxo
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Easing tensions could restore supply and reduce shipping and security costs, weighing on Brent, while inventory replenishment would support demand and prices. The outlook points to a lower ceiling than during the conflict but a floor above pre-war levels.

## Read by commodity

- BRENT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-09 | [Oil falls as investors weigh U.S. import ban](https://feedsoft.ai/events/5778-oil-falls-as-investors-weigh-u-s-import-ban.md) | -21.5% | -18.3% |
| BRENT | 2016-11-16 | [Oil volatile as U.S. crude build faces OPEC freeze hopes](https://feedsoft.ai/events/12018-oil-volatile-as-u-s-crude-build-faces-opec-freeze-hopes.md) | +4.5% | +19.7% |
| 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 | 2025-11-20 | [Refining Margins Soar as Global Oil Product Markets Tighten \| OilPrice.com](https://feedsoft.ai/events/11480-refining-margins-soar-as-global-oil-product-markets-tighten-oilprice-com.md) | +0.5% | -5.5% |
| BRENT | 2018-09-13 | [Oil trades below $70 as traders assess supply shortage  \| The National](https://feedsoft.ai/events/63208-oil-trades-below-70-as-traders-assess-supply-shortage-the-national.md) | -0.6% | +4.5% |

## Sources

- cnbctv18.com: https://www.cnbctv18.com/market/commodities/oil-price-outlook-brent-crude-support-usd-70-to-usd-90-ole-hansen-saxo-bank-alpha-article-20029854.htm

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