Brent Oil Futures

Energy · Monthly series · FX:UKOIL

Latest, October 2026

112.20 USD (exchange quote)

+14.6% from September 2026

Open interactive chartBrent Oil Futures in the terminal

Forecast

Forecast for October 2027: 111.39 USD (exchange quote), with an 80% interval of 58.39 USD (exchange quote) to 164.39 USD (exchange quote).

Forecast path. Intervals are shown where available.
Period	Forecast	80% low	80% high
November 2026	113.22 USD (exchange quote)	99.65 USD (exchange quote)	126.80 USD (exchange quote)
December 2026	113.11 USD (exchange quote)	91.31 USD (exchange quote)	134.90 USD (exchange quote)
January 2027	108.88 USD (exchange quote)	87.17 USD (exchange quote)	130.59 USD (exchange quote)
February 2027	109.14 USD (exchange quote)	85.47 USD (exchange quote)	132.81 USD (exchange quote)
March 2027	110.07 USD (exchange quote)	87.94 USD (exchange quote)	132.20 USD (exchange quote)
April 2027	109.97 USD (exchange quote)	78.92 USD (exchange quote)	141.03 USD (exchange quote)
May 2027	110.24 USD (exchange quote)	63.77 USD (exchange quote)	156.72 USD (exchange quote)
June 2027	110.00 USD (exchange quote)	69.76 USD (exchange quote)	150.23 USD (exchange quote)
July 2027	111.11 USD (exchange quote)	74.55 USD (exchange quote)	147.67 USD (exchange quote)
August 2027	111.99 USD (exchange quote)	78.76 USD (exchange quote)	145.23 USD (exchange quote)
September 2027	111.33 USD (exchange quote)	65.70 USD (exchange quote)	156.95 USD (exchange quote)
October 2027	111.39 USD (exchange quote)	58.39 USD (exchange quote)	164.39 USD (exchange quote)

Model: CatBoost (machine learning). Forecast generated 2026-11-04.

AI confidence

Needs refresh

The data refresh is due. Confidence will be reassessed against the refreshed history.

Model: CatBoost (machine learning)

How this assessment is made

AI confidence describes historical evidence for this forecast, not a probability of being correct. Each backtest fits on data available before its test window. The baseline carries the last value forward. Supported evidence requires at least six complete, non-overlapping tests, an error ratio below 0.90 (rounded to two decimals), and wins in a majority of tests. Ratios from 0.90 to below 1.10 are on par; 1.10 or above is weak evidence. Inconsistent wins produce mixed evidence. For a selected model, only the recent tests excluded from model selection determine this label. These are historical simulations using the available data, not a live trading track record; revisions and foundation-model pretraining can limit how closely they reproduce a past decision. Past performance can change.

Model comparison

4 of 4 models evaluatedModels are selected on older tests and evaluated on separate recent tests. All four classes completed their backtests.

Models tested

CatBoost scored lowest on the 6 older tests (0.93) and was chosen. The 6 recent tests played no part in the choice and give its grade (1.26). The search for a model that beats the naive forecast on both sets of tests goes on. Scores are MASE: a model's errors divided by the naive forecast's, so 1 is a tie.

4 model classes completed the tests: Machine learning, Foundation model, Statistical, Neural network.

Every model tested on this series.
Model	Class / library	Older tests	Recent tests	Role
CatBoost (machine learning)	Machine learning · MLForecast · CPU	0.93	1.26	Serving
Timestral (foundation model)	Foundation model · Timestral · GPU	0.97	0.99	Tested
Naive forecast (last value held)	Benchmark · CPU	1.00	1.00	Benchmark
AutoETS (statistical)	Statistical · StatsForecast · CPU	1.04	1.00	Tested
N-HiTS (neural network)	Neural network · NeuralForecast · CPU	1.56	0.90	Tested

Reading

It is above 99% of the 119 earlier readings since November 2016.

Written from the figures by a fixed template; no AI model is involved.

Recent history (24 observations)

The 24 most recent observations, newest first.
Period	Value
October 2026	112.20 USD (exchange quote)
September 2026	97.92 USD (exchange quote)
August 2026	90.71 USD (exchange quote)
July 2026	87.90 USD (exchange quote)
June 2026	73.34 USD (exchange quote)
May 2026	91.53 USD (exchange quote)
April 2026	111.16 USD (exchange quote)
March 2026	103.29 USD (exchange quote)
February 2026	73.25 USD (exchange quote)
January 2026	69.83 USD (exchange quote)
December 2025	60.99 USD (exchange quote)
November 2025	62.29 USD (exchange quote)
October 2025	64.66 USD (exchange quote)
September 2025	66.07 USD (exchange quote)
August 2025	67.40 USD (exchange quote)
July 2025	71.78 USD (exchange quote)
June 2025	66.57 USD (exchange quote)
May 2025	62.71 USD (exchange quote)
April 2025	61.08 USD (exchange quote)
March 2025	74.67 USD (exchange quote)
February 2025	73.03 USD (exchange quote)
January 2025	76.45 USD (exchange quote)
December 2024	74.81 USD (exchange quote)
November 2024	72.05 USD (exchange quote)

Source

Data: FX feed via TradingView.