Oil Prices May Soar Past $150 Per Barrel Amid Ongoing Conflicts
Bank of America is warning that Brent crude oil prices could surge above $150 per barrel if the conflict with Iran continues into next spring and disruptions to global energy supplies persist.
The bank raised its oil price outlook, predicting Brent will reach $95 a barrel in the second half of 2026, up from its previous forecast of $83. Under its base case, Bank of America expects Brent to average around $80 per barrel in 2027.
However, the bank's commodity and derivatives strategist, Francisco Blanch, warned that the risks surrounding this forecast are becoming increasingly skewed toward much higher prices.
If disruptions persist into spring 2027 or additional oil infrastructure is damaged, front-month Brent prices could spike above $150 per barrel as the market attempts to destroy demand and rebalance supplies.