{"id":48990,"date":"2026-04-29T11:53:03","date_gmt":"2026-04-29T11:53:03","guid":{"rendered":"https:\/\/quickassetsmarket.com\/index.php\/2026\/04\/29\/brent-crude-oil-forecast-as-trump-considers-prolonged-blockade\/"},"modified":"2026-04-29T11:53:03","modified_gmt":"2026-04-29T11:53:03","slug":"brent-crude-oil-forecast-as-trump-considers-prolonged-blockade","status":"publish","type":"post","link":"https:\/\/quickassetsmarket.com\/index.php\/2026\/04\/29\/brent-crude-oil-forecast-as-trump-considers-prolonged-blockade\/","title":{"rendered":"Brent crude oil forecast as Trump considers prolonged blockade"},"content":{"rendered":"
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Brent crude oil price continued rising on Wednesday after a new report suggested that President Donald Trump was considering a prolonged blockade in a bid to pressure Iran. It jumped to $110, up sharply from this month’s low of $87.<\/p>\n

Trump considers prolonged blockade <\/h2>\n

A media report by Bloomberg suggests that President Trump is considering a prolonged blockade<\/a> in a bid to put pressure on the Iranians as storage space runs out.<\/p>\n

This is a reaction to a recent report in which Iranians submitted an offer to the US. Its offer was to reopen the Strait of Hormuz in exchange for deferred talks on the nuclear program. <\/p>\n

A continued closure of the Strait will lead to higher crude oil prices since 20% of all crude oil passes there.<\/p>\n

Worse, there is  a risk that the ceasefire will end, leading to the resumption of fighting. Analysts believe that the next phase of fighting will be worse as it will involve critical infrastructure.<\/p>\n

In a recent post, Iran\u2019s parliamentary speaker highlighted some of the cards, including bombing a critical Saudi Arabian pipeline that is delivering over 7 million barrels of oil per day. <\/p>\n

He also pointed out that Houthis may help to close the Red Sea, which accounts for 12% of all oil shipments. This disruption will likely not be offset by the soaring US exports,which have jumped sharply in the past few weeks.<\/p>\n

Therefore, the most likely scenario is where the West Texas Intermediate and Brent benchmarks continue rising in the coming months as long as the crisis continues.<\/p>\n

Trump’s preparation for a prolonged ceasefire comes two weeks after he hinted at a long war by comparing the operation with other conflicts like Vietnam and Afghanistan.<\/p>\n

Meanwhile, Brent crude oil price is reacting to the major breaking news that the United Arab Emirates (UAE) was exiting the OPEC cartel after decades. <\/p>\n

Analysts believe that the country hopes to boost oil production, with estimates being that it can move from 3 million today to 5 million in the next few months. It is unclear whether other countries will follow the footsteps and exit the organization.<\/p>\n

Brent crude oil price technical analysis <\/h3>\n
<\/figure>\n

Crude oil price chart | Source: TradingView<\/em><\/p>\n

The daily chart shows that the price of Brent bottomed at $87.47 on April 17th after the two sides announced their ceasefire. It then rebounded to the current $110 as the blockade continues.<\/p>\n

The price has remained above the Supertrend indicator since January 12 this year, a sign that bulls remain in control. It also jumped above the 50-day and 100-day Exponential Moving Averages (EMA).<\/p>\n

The Relative Strength Index (RSI) has moved above the neutral point at 50 and is pointing upwards.<\/p>\n

Therefore, the most likely crude oil price forecast is bullish, with the next key target being at the year-to-date high of $119. A move above that price will point to more gains towards $120. <\/p>\n

The bullish outlook aligns with the recent Goldman Sachs forecast<\/a>. In their report, the analysts pointed to the ongoing tapping of oil reserves by the US and its allies.<\/p>\n

On the flip side, a drop below the support at $100 will invalidate the bullish outlook and point to more downside.<\/p>\n

The post Brent crude oil forecast as Trump considers prolonged blockade<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Brent crude oil price continued rising on Wednesday after a new report suggested that President Donald Trump was considering a prolonged blockade in a bid to pressure Iran. It jumped to $110, up sharply from this month’s low of $87. Trump considers prolonged blockade  A media report by Bloomberg suggests that President Trump is considering <\/p>\n","protected":false},"author":1,"featured_media":48991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-48990","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-world"},"_links":{"self":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/48990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/comments?post=48990"}],"version-history":[{"count":0,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/posts\/48990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media\/48991"}],"wp:attachment":[{"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/media?parent=48990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/categories?post=48990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quickassetsmarket.com\/index.php\/wp-json\/wp\/v2\/tags?post=48990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}