Brent rebounds from key support near $58 – Société Générale

Brent Crude has recovered from its April–May low around $58.40 and is now pushing toward the 200-day moving average near $65.75, a level that has capped recent rebound attempts, Société Générale's FX analysts note.

Oil approaches critical 200-DMA

"Brent recently defended the April/May 2025 low at $58.40 and has since staged a gradual recovery. It is now inching toward the 200-DMA near $65.75, an important hurdle. Notably, this moving average has provided resistance to the rebound attempts throughout the recent downtrend."

"A cross above this could lead to a larger up move. Last week’s trough at $59.80 serves as a short-term support."

Jan 13, 2026

WTI prices return above $60.00 as the conflict in Iran escalates

The US benchmark WTI Oil has appreciated more than $4 per barrel in a four-day rally, reaching nearly two-month highs at $60.50 on Tuesday, before pulling back to the $60.00 area.

EUR/USD: Likely to trade in a range between 1.1640 and 1.1700 – UOB Group

Euro (EUR) is likely to trade in a range between 1.1640 and 1.1700. In the longer run, weakness in EUR from early last week has stabilized; for the time being, it is likely to consolidate between 1.1615 and 1.1730, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.