Dutch financial group ING Group has raised its forecast for Brent oil prices for 2026, APA-Economics reports.
ING increased its forecast for the average price of Brent crude oil for 2026 by $4 compared to the previous estimate, raising it from $89 to $93 per barrel.
According to the bank’s updated forecast released in May, the average price of Brent oil is expected to stand at $104 in the second quarter of 2026, $99 in the third quarter, and $92 in the fourth quarter.
However, the forecast for 2027 has remained unchanged, and the average oil price is expected to be $77 per barrel.
According to ING’s forecast, the average price of Brent oil will amount to $82 in the first quarter of 2027, $79 in the second quarter, $75 in the third quarter, and $72 in the fourth quarter.
The upward revision of the forecast is linked to increasing supply risks in energy markets caused by geopolitical tensions in the Middle East.
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