Macquarie Warns of Oil Price Drop Amid Potential US-Iran Deal

Macquarie analysts have raised concerns about a potential oversupply in the oil market due to a possible deal between the US and Iran.

This development could significantly impact the balance of supply and demand for Brent crude oil, which has recently been trading in the low-$80s per barrel.

A potential agreement may release additional Iranian oil into the market, easing supply constraints associated with the Strait of Hormuz and contributing to a surplus.

As a result, Macquarie has adjusted its Brent crude price forecast downward, anticipating $77 per barrel in 2026 and $64 in 2027, reflecting expectations of increased Middle Eastern oil flows.