Brent crude is expected to remain confined to the $80-90 per barrel range over the coming month, with experts warning that a sustained move above $90 would require a significant, unforeseen disruption to global supply chains.
The consensus view among market analysts suggests that current fundamentals do not support a breakout higher, keeping upside risk limited despite ongoing geopolitical tensions in key shipping lanes.
Similarly, UBS has lowered its crude oil price forecasts for both 2026 and 2027, projecting an average price of $84 per barrel.
This assessment aligns with recent projections from major financial institutions.
S&P Global Energy has forecast that international crude prices will likely trade within the $80-90 band for the second half of 2026, pointing to declining global inventory levels and a normalization of supply flows as key stabilizing factors.
Similarly, UBS has lowered its crude oil price forecasts for both 2026 and 2027, projecting an average price of $84 per barrel.
The Swiss investment bank cited a faster-than-expected slowdown in global demand as the primary driver for the downward revision, suggesting that macroeconomic headwinds are outweighing supply-side risks.