Barclays Cuts Brent Price Forecasts for 2026, 2027

Key Facts

1Barclays cut its Brent crude oil price forecast for 2026 to $96 per barrel and for 2027 to $85 per barrel, from $100 and $88, respectively, after an increase in oil flows through the Strait of Hormuz.

In a move reflecting easing geopolitical risk premium, Barclays lowered its Brent crude oil price forecasts for 2026 to $96 per barrel and for 2027 to $85 per barrel, from $100 and $88, respectively. The bank attributed the revision to increased oil flows through the Strait of Hormuz, reducing supply disruption concerns.

The cut follows recent data showing increased tanker traffic through the strategic waterway, easing price pressure from regional tensions. Barclays’ revision comes as markets await OPEC+ policy developments that could trigger further forecast adjustments.

Market data shows Brent crude futures (ticker: BZ) closed at $75.26 per barrel on June 25, 2026, with a high of $75.84 and a low of $72.08. Traders are watching the API crude stock change data, which showed a draw last week, alongside any signals of policy shifts from major producers.

4 months ago

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Version 117 days ago

What changed: Correction: Brent crude futures closed at $75.26 a barrel on June 25, 2026 (high $75.84, low $72.08). The story previously gave the price of a stock that shares the BZ ticker, not the oil price.