HSBC: IN A DEAL BREAKDOWN OR DELAY SCENARIO, BRENT COULD REBOUND TOWARDS $90S/B AND POTENTIALLY BACK ABOVE $100/B

June 16 (Reuters) - HSBC:

  • IF US-IRAN MOU LEADS TO GENUINE GRADUAL HORMUZ REOPENING, THEIR $95/B 2026; $75/B 2027 BRENT ASSUMPTION REMAIN BROADLY APPROPRIATE

  • MAINTAINS $95/B 2026 BRENT ASSUMPTION PENDING GREATER CLARITY ON IMPLEMENTATION

  • SAYS IN A DEAL BREAKDOWN OR DELAY SCENARIO, BRENT COULD REBOUND TOWARDS $90S/B AND POTENTIALLY BACK ABOVE $100/B

  • EXPECT THE OIL MARKET TO REMAIN IN A DEFICIT UNTIL 4Q26 IN THEIR BASE CASE


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