Oil Price Forecasts Jump as Hormuz Disruption Drags On
Analysts have sharply raised their 2026 oil price forecasts as hopes fade for a quick normalization of shipping through the Strait of Hormuz, with a new Reuters poll putting Brent crude at an average of $89.05 per barrel this year, up from $85.08 just a month ago. The September survey of 30 economis
Source: OilPrice.com
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DW NOTE
WTI crude is trading at $90.65 and Brent at $98.21 — both down roughly 17-20% from their 2026 peaks — despite the Strait of Hormuz having been closed since February and global supply contracting by 5.7 million barrels per day. If analysts are only now raising their forecasts eight months into a supply shock that removed 6% of world production, they weren't forecasting, they were guessing.