S&P Global Energy has projected that international crude oil prices will likely trade within the $80 to $90 per barrel range during the second half of 2026.
The forecast cites declining global inventory levels and a normalization of supply flows as the primary structural supports for higher valuations in the coming months.
2% at the open, before retreating below the $80 threshold following news of an interim peace agreement between the United States and Iran.
The outlook suggests a floor for energy prices despite recent volatility.
Brent crude futures had surged to $82.30 per barrel earlier in the week, climbing 2.2% at the open, before retreating below the $80 threshold following news of an interim peace agreement between the United States and Iran.
That diplomatic development temporarily eased geopolitical risk premiums, but S&P Global’s analysis implies that fundamental supply-demand dynamics will keep prices elevated.
The agency’s assessment highlights the tension between geopolitical de-escalation and physical market tightness.