Analysts Raise 2026 Brent Forecast Amid US-Iran Tensions and Oversupply Fears

Analysts have revised their long-term outlook for Brent crude, raising the 2026 price forecast to $63.85 per barrel. This adjustment comes as escalating tensions between the United States and Iran continue to inject volatility into global energy markets. Experts estimate that these geopolitical risks are currently adding a premium of $4 to $10 per barrel to oil prices. However, the potential for significant price gains remains constrained by persistent concerns over a global supply glut. Market participants are closely monitoring production levels, as structural oversupply is expected to weigh on the market through 2026. Consequently, the outlook remains mixed, balancing immediate geopolitical threats against long-term bearish fundamentals.