Brent crude futures climbed back above $100 per barrel in after-hours trading, reversing earlier losses that had pushed the international benchmark below the psychologically important level during regular session hours.
Market Context
Global oil prices fluctuated throughout the trading day as traders weighed competing signals from supply-side dynamics and demand concerns. The intra-day pullback had brought Brent to session lows near $98 before the recovery rally began.
Analysis
The rebound above $100 reflects ongoing geopolitical risk premium embedded in crude markets. Supply disruptions from key producing regions continue to support prices despite broader macroeconomic headwinds affecting global energy demand forecasts. Institutional buying interest returned in the final hours of trading, particularly around the $99.50 support level that had held during the afternoon session.
Key Numbers
- Brent crude front-month futures settled above $100.50 in after-hours trading
- Earlier session low reached approximately $98.30 per barrel
- Day's trading range spanned roughly $2.20 from intraday low to recovery high
- Trading volume in the final hour exceeded the daily average by approximately 15%
What to Watch
Traders will monitor weekly inventory data scheduled for release in the coming days for signals on supply dynamics. The $100 level remains a key technical pivot, with resistance eyed at $102 and support clustering around $98.50. Upcoming OPEC+ communications and any developments related to Iranian or Venezuelan supply could provide directional catalysts.
Traders should also track refinery margins and crack spreads, as these indicators will influence crude demand expectations heading into the spring driving season.