Brokerage / Agency Brent 2026 ($/bbl) Brent 2027 ($/bbl) WTI 2026 ($/bbl) WTI 2027 ($/bbl) Key Forecast / Commentary Morgan Stanley ~80 — — — Expects Brent to stay above $80 for rest of 2026 Goldman Sachs 85 80 79 75 Brent may spike to $110 in March–April 2026 J.P. Morgan 72 — — — Brent seen at $100 (Q2), $90 (Q3), $80 (Q4) Standard Chartered 85.5 — — — Brent avg: $78 (Q1), $98 (Q2) Bank of America (BofA) 77.5 66 — 61 Brent avg: $80 (Q2), $76 (Q3) Barclays 85 — — — Could hit $100 if Hormuz disruption lasts 4–6 weeks ANZ — — — — Raised Q1 2026 Brent forecast to $100 BMI 70 70 68 68 Brent avg: $67–69 in H2 2026 Citi 71 64 68 61 Brent avg: $75 (Q1), $78 (Q2), $68 (Q3) HSBC 80 70 76 67 Moderate price outlook with slight decline into 2027 Macquarie — — — — Prices could hit $150+ if Hormuz stays shut UBS 72 70 68 66 Brent could cross $100–120 if disruption persists
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Major brokerages have raised their 2026 average oil price forecasts as the U.S.-Israeli war with Iran drove oil prices sharply higher this month.Morgan Stanley raised its 2027 Brent oil price forecast to $80 per barrel, saying it expects a lasting repricing of geopolitical risk after the Strait of Hormuz disruption left the market structurally tighter than previously assumed.Brent crude futures were trading at $100.32 a barrel by 0708 GMT on Wednesday, while U.S. West Texas Intermediate crude was at $89.24.Israel and Iran exchanged airstrikes on Wednesday, as Iran's military rejected President Donald Trump's assertion that the U.S. was in negotiations to end the war.