March 13 (Reuters) - Major brokerages, including Goldman Sachs and Bank of America, have revised their average oil price forecasts for 2026 as the war in Iran approached the two‑week mark on Friday.
Factbox-ANZ expects Brent crude to end 2026 at $88/barrel on Middle East supply losses
ANZ Oil Price Forecasts and Market Impact Analysis
ANZ's Brent Crude Price Outlook
April 14 (Reuters) - ANZ said on Tuesday it expects Brent crude to trade above $90 per barrel in 2026 before ending the year at $88 due to a loss of supply from the Middle East conflict.
The Australian bank sees oil prices remaining elevated into 2027 and staying around the $80 to $85 per-barrel range.
Global Supply Disruptions and Market Deficit
ANZ estimates nL1N40W154 that nearly 10 million barrels per day of crude supply have been removed from effective global availability, turning what was expected to be a modest surplus at the start of the year into a deep deficit nL4N40T0EF.
While some supply could return to the market in the event of normalising security conditions, the bank estimates that between 1 million and 2 million bpd of output could face permanent or semi-permanent disruption due to reservoir damage, deferred maintenance, and financial challenges.
Geopolitical Tensions and Oil Market Volatility
Impact of U.S. Blockade and Strait of Hormuz
The U.S. military began a blockade of Iran's ports, angering Tehran and raising uncertainty around the Strait of Hormuz, although hopes for dialogue nL6N40X074 to end the war provided some relief to oil markets. [O/R]
Recent Oil Price Movements
Brent futures declined by 0.7% to $98.64 on Tuesday, while U.S. West Texas Intermediate (WTI) crude fell 1.7% to $97.4 by 0537 GMT.
Brokerage Forecasts and Price Targets
Summary Table of Forecasts
Brokerage/ Brent WTI Forecasts Price
Agency as of Targets
2026 2027 2026 2027
Goldman Sachs
Goldman $83 ($85 $80 $78 ($79 $75 April 9, Trims 2Q
Sachs previousl previous 2026 2026
y) ly) Brent, WTI
forecast
to $90/$87
ANZ
ANZ $88* April 14, Expects
2026 Brent
prices to
remain
above
$90/bbl
for the
rest the
year. Sees
prices at
$80-$85/bb
l into
2027
UBS
UBS - - - - April 13, Expects
2026 prices
to trade
>$150/bbl
if flows
through
Hormuz
remain
disrupted.
Sees Brent
at
$100/bbl
by
end-June
2026, $95
by
end-Sept,
$90 by
end-Dec
Macquarie
Macquarie $89.28 $74.50 $82.93 $70.50 March 27 If the war
continues
until end
of June,
oil prices
may rise
