UPDATE 1-Barclays cuts Brent price forecasts for 2026 and 2027

Add details and context throughout

June 26 (Reuters) - Barclays on Friday cut its Brent crude LCOc1 price forecasts to $96 per barrel for 2026 and $85 per barrel for 2027, down from $100 and $88 respectively, after an increase in oil flows through the Strait of Hormuz.

  • Crude prices were on course for weekly losses, as more oil tankers exited the strait, easing supply concerns, even though a cargo vessel was hit near Oman on Thursday. O/R

  • Data on Thursday showed that crude shipments through the strait rose this week to their highest since the U.S.-Israeli conflict with Iran began at the end of February.

  • But Barclays said that even if flows continue returning to more normal levels in the coming days, inventories are likely to decline for at least a few more weeks.

  • Barclays said its balances indicate a deficit in the third quarter of 2026, largely due to the lag in production recovery.

  • Saudi Aramco resumed oil loading at its Ras Tanura terminal in the Gulf after a nearly four-month halt, data from LSEG showed.

  • UBS on Thursday cut its Brent crude forecasts to $85 a barrel for end-September and end-December, from $105 and $95 respectively.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.