Standard Chartered Boosts Oil Price Forecasts Amid Ongoing Middle East Tensions
Standard Chartered analysts have revised their oil price forecasts for 2026 and 2027, citing ongoing tensions in the Middle East as a key factor. The bank now expects Brent prices to average $92 per barrel in 2026, up from a previous forecast of $85.50. For WTI, the forecast has been raised to $86 per barrel, from $80.25.
The revised forecasts for 2027 are even more bullish, with Brent and WTI averaging $89.50 per barrel. This represents a significant increase over the previous estimate of $77.50.
Standard Chartered points out that even if negotiations between the US and Iran resume, tensions in the region will likely remain high, supporting higher oil prices. The analysts also highlight the potential impact of record diesel prices and discussions around restricting exports on global markets.