finance
Barclays Keeps $100 Brent Forecast for 2026, Flags Higher Price Risks
Barclays maintained its $100 per barrel Brent crude forecast for 2026 while noting that risks to prices are skewed to the upside. The bank cited ongoing supply constraints and falling global inventories.
May 22, 5:18 AM·1m read1 source
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Barclays kept its $100 per barrel Brent forecast for 2026 on Friday while stating that risks to oil prices are skewed higher. U.S. and global oil inventories to multi-year lows. U.S. inventories within reach of the lowest levels since 2020,” analysts at Barclays wrote in a note carried by Reuters.
Even if the Strait of Hormuz were to fully open to tanker traffic today, the starting point for inventories would be about 20 million barrels below the tightest level they have been recently, according to Barclays.
-Iran diplomatic breakthrough. Goldman Sachs estimates global oil inventories are drawing at a record pace as Hormuz exports remain severely constrained.
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