BRIEF-Barclays Maintains $100/bbl Brent Forecast For 2026

May 8 (Reuters) - BARCLAYS:

  • MAINTAINS $100/BBL BRENT FORECAST FOR 2026 WITH RISKS SKEWED HIGHER

  • EVEN IN MOST OPTIMISTIC SCENARIO, WE THINK OIL PRICES ARE PROBABLY TOO LOW AS DEMAND REMAINS LARGELY RESILIENT AND INVENTORIES CONTINUE TO DRAW FAST

  • SAYS REFINED PRODUCT SUPPLY IS A BIGGER CONSTRAINT, ESPECIALLY FOR MIDDLE DISTILLATES

  • RECOMMEND GOING LONG THE DECEMBER 2026 ICE GASOIL MINUS BRENT CRACK SPREAD AT $33.4/BBL AT THE TIME OF WRITING


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