Global oil remains one of the most vital commodities in the world economy. Oil price trends, influenced by a variety of factors, are constantly changing, creating significant impacts on financial markets and society at large. One of the main causes of oil price fluctuations is the dynamics of supply and demand. In 2023, global oil demand is expected to increase in line with post-pandemic economic recovery and growth in the transportation industry. According to a report from the International Energy Agency (IEA), demand is expected to reach 102 million barrels per day, a boost driven by industrial recovery and increased mobility. On the supply side, decisions by the Organization of the Petroleum Exporting Countries (OPEC) and its allies in regulating production also play a big role. In recent months, OPEC+ has taken steps to reduce production to keep prices stable. This policy proved effective, but came under scrutiny when its members began considering increasing production in response to surging demand. Geopolitics is also a big factor behind oil price volatility. Tensions in the Middle East, as well as sanctions against countries such as Iran and Venezuela, are affecting supply stability. This uncertainty causes price spikes as the market responds to news related to potential supply disruptions. The latest trend shows that the price of Brent crude oil has reached its highest level in recent years, breaking the $90 per barrel mark. This surge was also triggered by increasing tensions between Russia and Ukraine, which disrupted shipping routes and energy supplies to Europe. Investors and energy sector analysts are always monitoring these news, considering their impact on prices. The renewable energy sector is also at the center of attention in oil price analysis. The transition to clean energy sources presents new challenges and opportunities. Although many companies are investing in renewable energy, short-term demand for oil remains high. This creates an interesting situation where oil prices can remain strong despite the shift to alternative energy. Apart from that, the COVID-19 pandemic is still having its own impact. The emergence of new variants can trigger varying energy utilization responses in various countries. Rapid vaccination growth and economic reopening are key factors that will influence future oil demand. Technical analysis is also an important method for monitoring price trends. Many traders follow chart patterns and indicators to predict price shifts, using tools such as the Moving Average and Relative Strength Index (RSI) to assess market momentum. This method allows investors to make more informed decisions based on historical data analysis. Finally, currency movements also have a significant impact on oil prices. Fluctuations in the value of the US dollar are directly proportional to global oil prices, because oil transactions are generally carried out in dollars. The increase in interest rates carried out by the Federal Reserve also affects the dollar exchange rate, which in turn has an impact on various commodity markets, including oil. With multiple factors influencing global oil prices, in-depth analysis is becoming increasingly important for investors, market analysts and policy makers. Understanding the latest trends and the factors behind these fluctuations is key to making informed decisions in the energy sector.