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Commodities

EIA Raises 2026 Oil Forecast Amid Hormuz Disruptions

Guavy AI Editorial Team
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The US Energy Information Administration (EIA) has increased its forecast for crude oil prices in 2026 to $87 per barrel, citing Middle East supply constraints and persistent geopolitical tensions.

The EIA's updated Short-Term Energy Outlook projects that U.S. commercial crude stocks will remain below five-year historical lows through the end of 2026 due to strong foreign demand.

Brent crude oil spot prices are now expected to average $87 per barrel in 2026, up from previous projections, driven by expanded estimates of shut-in crude production in the Middle East and shipping disruptions along the Strait of Hormuz.

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