UBS: CUTS BRENT CRUDE OIL PRICE FORECAST TO $80/BBL FOR 3Q26, 4Q26

- UBS on Thursday cut its Brent crude forecasts to $80 a barrel for end-September and end-December, citing the recent U.S.-Iran memorandum of understanding resulting in an increase in oil flows via the Strait of Hormuz.

The bank also lowered its 2027 average Brent crude price forecast to $75 per barrel.