⭕️ Analysts have raised their 2026 oil price forecasts, with Brent expected to average $89.05 a barrel and US crude $83.90, as prolonged disruption to Gulf exports outweighs concerns over weaker demand.

The outlook assumes limited near-term recovery in Strait of Hormuz shipping, with inventories absorbing much of the supply shortfall. Analysts say Chinese stockpiles, which have buffered the market, are beginning to decline, likely increasing China’s crude purchases. Despite weaker global growth limiting demand, most analysts see supply risks as the main driver of prices in 2026. The market is expected to return to surplus in 2027 as Gulf exports recover and non-OPEC supply expands.

(Reuters)