Oil Prices Set to Rise as Middle East Disruptions Persist

Oil prices are expected to rise further in 2026 due to ongoing supply disruptions in the Middle East, according to a Reuters poll of 31 economists and analysts.

The survey forecast that Brent crude will average $85.22 per barrel next year, up from June's estimate of $84.50, while US crude is projected to average $80.14 per barrel, compared with June's estimate of $79.49.

The disruptions are caused by the ongoing conflict between the US and Iran, which has sharply reduced traffic through the Strait of Hormuz, a key shipping route that carries about one-fifth of global crude oil and natural gas supplies.

The Houthi militia in Yemen has also disrupted shipping through the Bab el-Mandeb Strait, creating another chokepoint for oil flows.