Barclays expects higher Brent prices if Strait of Hormuz remains disrupted
June 9 (Reuters) - Barclays said that if the Strait of Hormuz remains blocked beyond the end of this month, Brent crude is likely to average above its current forecasts.
Barclays forecasts Brent crude will average $100 a barrel in 2026 and $88 a barrel in 2027, assuming freedom of navigation through the Strait is restored by the end of this month.
If normalisation is delayed until the end of July, it expects Brent to average $105 a barrel in 2026 and $95 in 2027.
A further delay until the end of August would raise the averages to $110 a barrel in 2026 and $105 in 2027, respectively.
Iran has continued to block most shipping through the Strait, which before the war that began at the end of February carried a fifth of the world's crude oil and liquefied natural gas.
