Triple-Digit Oil Prices Now Seen as Realistic, Not Remote Risk

Oil prices have breached the $100 per barrel mark after a prolonged climb, and Wall Street is now pricing in a prolonged disruption to global oil supplies.

The Strait of Hormuz, a key shipping route, remains severely impacted by ongoing conflict, leading to continued supply shortages.

HSBC has raised its 2027 Brent forecast by $20 to $85, while Goldman Sachs and Bank of America have also increased their forecasts, with worst-case scenarios including oil prices reaching $120 or even $150 per barrel.