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Brent crude to hold $95-$115 range despite US midterm uncertainty, says Geoffrey Dennis
CNBC-TV18 1 hr ago·3 Nov 2026, 3:58 am
Global oil prices are expected to remain stable in a wide range of $95 to $115 per barrel, even as the United States approaches its midterm elections. This outlook, shared by independent emerging markets commentator Geoffrey Dennis, suggests that geopolitical tensions and supply constraints will likely keep crude prices elevated regardless of the political outcome in Washington.
For Indian investors, this stability is a key factor for the broader market. Since India is a major oil importer, a firm oil price range helps keep fuel costs predictable. This reduces the risk of sudden inflation spikes and supports the country's current account balance, which is generally viewed as a positive sign for domestic equity markets in the near term.
Investors should watch for any unexpected shifts in US policy or major supply disruptions. While the current forecast suggests a calm environment, political decisions or production cuts by major oil exporters could push prices outside this expected range, potentially impacting the performance of commodity-related stocks.
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