London, May 2 (SANA) Barclays has raised its forecast for Brent Crude prices in 2026 to $100 per barrel, citing persistent geopolitical tensions linked to the war in the Middle East and mounting pressure on global supplies, particularly through the Strait of Hormuz.
According to Reuters, the bank said in a recent note that prices could climb further if disruptions in the Strait of Hormuz persist, warning that prolonged instability would trigger sharper price shocks.
Barclays estimated the global oil market is currently facing a supply deficit of around 6.6 million barrels per day, with the gap expected to widen in the coming period. It also said that even a potential exit by the United Arab Emirates from OPEC would not be enough to fully offset the shortfall.
The bank added that if current disruptions continue through the end of May, Brent futures for 2026 could rise to as high as $110 per barrel.
kA.MZ
Barclays lifts 2026 Brent forecast to $100 on prolonged Hormuz disruption
Editors Choice
