Brokerage/Agency

Brent

WTI

Forecasts as of

Price Targets

2026

2027

2026

2027

Macquarie

$89.28

$74.50

$82.93

$70.50

March 27

If the war continues until end of June, oil prices may rise to $200

Morgan Stanley

-

$80 ($70 previously)

-

-

March 24, 2026

Expects Brent prices to remain above $80/bbl for the rest of 2026

Goldman Sachs

$85 ($77 previously)

$80 ($71 previously)

$79 ($72 previously)

$75 ($67 previously)

March 22, 2026

Expect Brent to average $110/bbl in March and April

J.P Morgan

-

$72

-

-

March 20, 2026

Expects Brent prices averaging $100/bbl

in Q2'26, $90/bbl in Q3'26 and $80/bbl in Q4'26

Standard Chartered

$85.50 ($70 previously)

Expects Brent to average $78/bbl in Q1'26, and $98/bbl in Q2'26

BofA

$77.50 ($61 previously)

$66 ($62 previously)

-

$61 ($59 previously)

March 16, 2026

Expects Brent to average $80/bbl in Q2'26, but average $76/bbl in Q3'26

Barclays

$85 (from $65 previously)

The forecast assumes the Strait of Hormuz normalises in 2-3 weeks

-

-

-

March 13, 2026

But if the Strait of Hormuz takes 4-6 weeks to normalise, says Brent could climb to $100/bbl

ANZ

-

-

-

-

March 12, 2026

Raises Brent forecast for Q1'26 to $100/bbl from $90/bbl

BMI

$70 ($67 previously)

$70

$68

$68

March 12, 2026

Expects Brent to average $67/bbl and $69/bbl in Q3’26 and Q4'26, respectively.

Citi

$71 ($63 previously)

$64

$68($60 previously)

$61

March 11, 2026

Anticipates Brent averaging $75/bbl in Q1'26, $78/bbl in Q2'26, and $68/bbl in Q3’26

HSBC

$80 ($65 previously)

$70($66 previously)

$76($61 previously)

$67($63 previously)

March 10, 2026

-

-

-

-

March 6, 2026

Expects crude prices could rise to $150/bbl or above if the Strait of Hormuz remains closed for several weeks

UBS

$72 ($62 previously)

$70

$68($58 previously)

$66

March 4, 2026

Expects prices

to move towards >$100/bbl and into more severe demand

destruction of the territory of $120+/bbl if flows through Hormuz remain disrupted