本报告来源： MacroTerms.com

数据截止: 2026-10-07 · 结算口径: 交易所最终日结算价

Brent Crude (BZ=F) Deep Dive | Bullish on Prompt Tightness | 2026-10-09

We maintain a bullish bias on Brent Crude (BZ=F), targeting a sustained move above the 105.07 resistance zone as prompt market tightness and refining demand outweigh macro headwinds. The current setup is driven by a structural deficit in distillate inventories, resilient refinery utilization, and a technical breakout in early Asian trade that invalidates prior lower-highs. While the broader macro environment remains mixed, the physical fundamentals of the crude complex suggest that downside risk is limited and upside momentum is building. Our primary invalidation level sits at a daily close below 97.83, which would negate the immediate bullish structure. The market is currently pricing in a scenario where supply constraints in the prompt months are more significant than demand destruction fears, creating a favorable risk-reward profile for long exposure.