01 April 2025: 16:30 BST
$75 is a tough nut to crack. After last week’s rally, Brent rolled into April and fancied a go at it and the front month (June) contract tiptoed over this morning to peak at $75.27/bbl before falling back to close at $74.93/bbl. The front Brent spread took flight yesterday, closing in on $1.20, but descended again to 82c by today’s European close. So, what happens now? Is this overbought territory? Feels like it, and only those daring and with a strong expectation of boom boom should be long above $75… otherwise, risky!
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