Brent crude’s January 2027 futures contract traded at $96.29 late Friday, above Brown Brothers Harriman’s $94.36 200-day average, as the recovery coincided with rising U.S. Treasury yields and a stronger dollar.
Intercontinental Exchange (ICE) data showed the contract’s last trade at $96.29 a barrel at 5:59 p.m. ET (22:59 UTC) Friday, Nov. 13. A note published that day by Brown Brothers Harriman (BBH) strategist Elias Haddad put the 200-day moving average at $94.36. The ICE trade is a time-specific contract price; Haddad’s figure is a calculated average.
Brent touched $89.16 intraday on Tuesday, Nov. 10, before closing at $91.49, according to the Financial Times’ historical-price table. Haddad said the low was the benchmark’s weakest since late August. The move updates EconoTimes’ earlier report on Brent’s return above $90 after Tuesday’s dip.
BBH’s Nov. 13 note placed oil’s recovery among wider U.S. market developments: It said rate-hike expectations lifted Treasury yields and the dollar reached a 19-month high. Haddad described equity markets as mixed. He also cited Nvidia leadership turmoil as raising concerns about disruption to the AI industry and possible tighter U.S. chip export curbs on China. The note did not identify those developments as a specific cause of Brent’s rebound.
In a Nov. 10 note, BBH linked Brent’s fall below $90 to a fading geopolitical risk premium. Its Nov. 9 note said Brent was approaching its 200-day average after President Donald Trump downplayed the prospect of renewed military strikes on Iran.
BBH cited a $93.85 moving average in its Nov. 9 note and $94.36 four days later. The notes do not say why the figure changed, and the Nov. 13 note does not identify the contract or price series used for its calculation.
