--- title: "Navigating Uncertainty: What to Expect in the Oil Market for the New Fiscal Year" description: Explore Mintec's insights into the volatile oil market, from price interval forecasts to expert analysis. Get ready for the new fiscal year with our expert guidance. image: https://www.mintecglobal.com/hubfs/Forecasting%20blog%20banners%20(1).png --- [![Mintec_by_expana_white](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Reversed_RGB-3.png?width=145&height=55&name=Mintec_Logo_Small_Use_Reversed_RGB-3.png "Mintec_by_expana_white")](https://www.mintecglobal.com) [![Mintec_by_expana_dark](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Mono_RGB%20(2).png?width=145&height=54&name=Mintec_Logo_Small_Use_Mono_RGB%20(2).png "Mintec_by_expana_dark")](https://www.mintecglobal.com) - ![Flags](https://cdn2.hubspot.net/hubfs/4080606/flag-button-round-250.png) ** - [![Dutch](https://f.hubspotusercontent00.net/hubfs/4080606/dutch-01-1.png)](https://translate.google.com/translate?hl=&sl=en&tl=nl&u=www.mintecglobal.com) - [![Finnish](https://f.hubspotusercontent00.net/hubfs/4080606/Finnish-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=fi&u=https%3A%2F%2Fwww.mintecglobal.com) - [![French](https://cdn2.hubspot.net/hubfs/4080606/France-1.png)](https://www.mintecglobal.com/french) - [![German](https://cdn2.hubspot.net/hubfs/4080606/Germany-1.png)](https://translate.google.com/translate?hl=&sl=en&tl=de&u=www.mintecglobal.com) - [![Italian](https://cdn2.hubspot.net/hubfs/4080606/Italy-1.png)](https://www.mintecglobal.com/italia) - [![Norwegian](https://f.hubspotusercontent00.net/hubfs/4080606/Norway-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=no&u=www.mintecglobal.com) - [![Portuguese](https://f.hubspotusercontent00.net/hubfs/4080606/portugal-01.png)](https://www.mintecglobal.com/portugal) - [![Russian](https://f.hubspotusercontent00.net/hubfs/4080606/russian-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=ru&u=www.mintecglobal.com) - [![Spanish](https://cdn2.hubspot.net/hubfs/4080606/Spain.png)](https://www.mintecglobal.com/espana) - [![Swedish](https://f.hubspotusercontent00.net/hubfs/4080606/swedish-01.png)](https://translate.google.com/translate?hl=&sl=en&tl=sv&u=www.mintecglobal.com) - [![SIGN IN](https://no-cache.hubspot.com/cta/default/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204) - [![GET STARTED](https://no-cache.hubspot.com/cta/default/4080606/885beebf-1311-41e6-90cc-01c1a0614f69.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/885beebf-1311-41e6-90cc-01c1a0614f69) [![Mintec_by_expana_white](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Reversed_RGB-3.png?width=145&height=55&name=Mintec_Logo_Small_Use_Reversed_RGB-3.png "Mintec_by_expana_white")](https://www.mintecglobal.com) [![Mintec_by_expana_dark](https://www.mintecglobal.com/hs-fs/hubfs/Mintec_Logo_Small_Use_Mono_RGB%20(2).png?width=145&height=54&name=Mintec_Logo_Small_Use_Mono_RGB%20(2).png) ](https://www.mintecglobal.com/) - EN ** - [NL](https://translate.google.com/translate?hl=&sl=en&tl=nl&u=www.mintecglobal.com) - [FI](https://translate.google.com/translate?hl=&sl=en&tl=fi&u=https%3A%2F%2Fwww.mintecglobal.com) - [FR](https://translate.google.com/translate?hl=&sl=en&tl=fr&u=www.mintecglobal.com) - [DE](https://translate.google.com/translate?hl=&sl=en&tl=de&u=www.mintecglobal.com) - [IT](https://translate.google.com/translate?hl=&sl=en&tl=it&u=www.mintecglobal.com) - [NO](https://translate.google.com/translate?hl=&sl=en&tl=no&u=www.mintecglobal.com) - [PT](https://translate.google.com/translate?hl=&sl=en&tl=pt&u=www.mintecglobal.com) - [RU](https://translate.google.com/translate?hl=&sl=en&tl=ru&u=www.mintecglobal.com) - [ES](https://translate.google.com/translate?hl=&sl=en&tl=es&u=www.mintecglobal.com) - [SV](https://translate.google.com/translate?hl=&sl=en&tl=sv&u=www.mintecglobal.com) - [![SIGN IN](https://no-cache.hubspot.com/cta/default/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/3a597199-6ead-499b-8311-0bd6a6ba4204) - [![GET STARTED](https://no-cache.hubspot.com/cta/default/4080606/885beebf-1311-41e6-90cc-01c1a0614f69.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/885beebf-1311-41e6-90cc-01c1a0614f69) ![](https://px.ads.linkedin.com/collect/?pid=1609690&fmt=gif) # Navigating Uncertainty: What to Expect in the Oil Market for the New Fiscal Year [back to insight ](https://www-mintecglobal-com.sandbox.hs-sites.com/our-insight-2018) November 10, 2023 2 mins read   Data and insights have been taken from the Mintec forecasting service. To find out more about this full service, and to get a gree trial, get in touch today [![Get your free trial](https://no-cache.hubspot.com/cta/default/4080606/interactive-142289011531.png) ](https://www.mintecglobal.com/hs/cta/wi/redirect?encryptedPayload=AVxigLLoF41DAgwioMqWgT7%2FCehZ2ggsxq92us%2FnQSy4B4y5amjwvTxv03KeGjrPFpNCfd5dZ4VIm2IwJQFbo2XjPrEH4e%2FxtpW87SfW6MjUFTzKJi%2FiXDixQjtjgpFEAo8DjBtCg5nPmvZEFlQA9utkr74BEunh5DiOObwBQEjGDSJovVyqJ2JzWe3196CZwp4XaFQ46S97O%2Bo4ATa7a5fPeD3bvGMtaRmjbg%3D%3D&webInteractiveContentId=142289011531&portalId=4080606) ![](https://www.mintecglobal.com/hs-fs/hubfs/undefined-4.jpeg?width=426&height=277&name=undefined-4.jpeg) *With a new fiscal year on the horizon, businesses dealing with oil and oil-related products are facing a market characterized by significant uncertainty. The volatile nature of the oil industry, influenced by various factors, has raised questions about what the future holds. In this blog post, we'll explore Mintec's insights into the oil market and their forecasts for Brent crude oil prices as they approach the new fiscal year.* #### The Price Interval Forecast The starting point for understanding the current state of the oil market is Mintec's "Oil Price Interval Forecast" for Brent crude oil. This insightful graph provides a clear picture of the range within which oil prices may fluctuate. At a 95% confidence level, the range spans from USD 35 to USD 139 per barrel. For those willing to accept a slightly lower confidence level of 70%, the range narrows to USD 54 - USD 120 per barrel. It's important to note that this interval is not based on expectations or forecasts but rather on historical volatility. Factors such as current supply and demand, geopolitical conditions, and other real-time variables are not considered in this calculation. Instead, Mintec's team of forecast analysts employs a robust methodology, considering supply/demand dynamics, macroeconomic developments, and technical analysis indicators like moving averages, RSI, and MACD to make well-informed predictions. #### Mintec's Forecast and the Recent Trend Contrary to popular belief, Mintec's forecast for Brent crude oil prices indicated weakness following a peak in late Q3. This forecast has proven to be on point as Brent crude oil prices reached a high of USD 96.55 on September 27, only to drop by over USD 15 since then. #### The Burning Question As we step into the new fiscal year, one burning question arises: Is this weakness in oil prices a sign of a more extended downtrend, or is it merely a pause in an ongoing uptrend? According to Mintec's short-term forecast, there's a strong likelihood of further upside in oil prices. The recent weakness is expected to fizzle out in Q4 of 2023, potentially leading to a significant increase in Brent crude oil prices, possibly surpassing the USD 100 mark. #### Seizing Opportunities The forecast suggests that there may be an opportunity to hedge against this impending increase in oil prices. However, Mintec's methodology emphasizes not acting solely on expectations. Instead, they recommend making decisions only when validating signals present themselves. In essence, it's crucial to keep a close eye on various market indicators and factors that will trigger action when the time is right. As we approach a new fiscal year, businesses exposed to oil and oil-related products must navigate the uncertainty of the oil market. Mintec's Price Interval Forecast and insights into Brent crude oil prices indicate potential ups and downs, and their forecasts suggest that we may see a significant increase in prices in the coming months. However, the key to success lies in being vigilant and ready to act when the right signals present themselves. The road ahead may be uncertain, but with the right approach, businesses can thrive in this ever-evolving oil market. Explore Mintec to learn how leveraging extensive forecast data and insight on currency commodities can help you mitigate risks and maximize opportunities.  [![Get your free trial](https://no-cache.hubspot.com/cta/default/4080606/interactive-142289011531.png) ](https://www.mintecglobal.com/hs/cta/wi/redirect?encryptedPayload=AVxigLLoF41DAgwioMqWgT7%2FCehZ2ggsxq92us%2FnQSy4B4y5amjwvTxv03KeGjrPFpNCfd5dZ4VIm2IwJQFbo2XjPrEH4e%2FxtpW87SfW6MjUFTzKJi%2FiXDixQjtjgpFEAo8DjBtCg5nPmvZEFlQA9utkr74BEunh5DiOObwBQEjGDSJovVyqJ2JzWe3196CZwp4XaFQ46S97O%2Bo4ATa7a5fPeD3bvGMtaRmjbg%3D%3D&webInteractiveContentId=142289011531&portalId=4080606) [![Mintec_Analytics_trial](https://no-cache.hubspot.com/cta/default/4080606/65050ca2-02fb-4a65-b753-f1f10e2de4a0.png)](https://cta-redirect.hubspot.com/cta/redirect/4080606/65050ca2-02fb-4a65-b753-f1f10e2de4a0) Topics: [Commodities](https://www.mintecglobal.com/top-stories/tag/commodities), [Commodity Price Forecasts](https://www.mintecglobal.com/top-stories/tag/commodity-price-forecasts), [Forecasting](https://www.mintecglobal.com/top-stories/tag/forecasting), [Crude Oil](https://www.mintecglobal.com/top-stories/tag/crude-oil) ![Jesper Christiansen](https://www.mintecglobal.com/hubfs/Jesper-1.jpg) Jesper Christiansen [## PRICE FORECASTING ## ![Mintec_logo_secondary_light](https://www.mintecglobal.com/hs-fs/hubfs/Redesign2018/Logos/Mintec_logo_secondary_light.png?width=120&name=Mintec_logo_secondary_light.png) Strengthen your buying strategy, control exposure to price risk Deliver future price predictions and hedging recommendations, by identifying key turning points and commodity trends.   LEARN MORE ](https://www.mintecglobal.com/forecasting) #### /You May Also Like ![Featured Image](https://www.mintecglobal.com/hubfs/Trade%20boat%20at%20the%20port%20of%20Miami-1.jpeg) [ANALYSIS: Black Sea Wheat Exports Face Logistical and Weather Challenges](https://www.mintecglobal.com/top-stories/analysis-black-sea-wheat-exports-face-logistical-and-weather-challenges) Grain markets in the Black Sea region are entering the second half of... 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