Following the resumption of shipping through the Strait of Hormuz
Following the resumption of shipping through the Strait of Hormuz, the price of Brent crude is likely to remain in the $75–$85 per barrel range. Sovcombank expects the average spot price of Brent in the third quarter to be $88 per barrel, and Urals crude at $68 per barrel.
Consensus
- The Strait of Hormuz has reopened for shipping
- Analysts predict a decline in Brent crude oil prices
- The reopening is linked to a diplomatic agreement between the US and Iran
- The price of Brent crude is expected to fluctuate in the range of $70-85 per barrel in the second half of 2026
Points of divergence
- Brent crude will average $82 per barrel in 2026, and $70 per barrel in 2027 — interfax
- Brent crude is expected to stay between $75-85 per barrel in 2026 — vedomosti
- Brent crude is expected to average $88 per barrel in Q3 2026 and $80 in Q4 2026 — vedomosti
- A rapid reopening could cause Brent to drop to $65-70 per barrel temporarily — vedomosti
- The reopening will lead to a gradual price decline over several months — vedomosti
Coverage (1 sources)
- BofA analysts predict Brent price decline to $82 per barrel after full opening of Strait of Hormuz — Интерфакс