Barclays Bank expects Brent crude prices to rise if the Strait of Hormuz remains closed.

June 9 (Reuters) - Barclays Bank said Brent crude's average price is likely to exceed its current forecast if the Strait of Hormuz remains closed beyond the end of this month.

  • Barclays expects Brent crude to average $100 a barrel in 2026 and $88 in 2027, assuming freedom of navigation through the strait is restored by the end of this month.

  • If the return to normal is delayed until the end of July, the bank expects Brent crude to average $105 a barrel in 2026 and $95 in 2027.

  • Any further delay until the end of August would raise average prices to $110 a barrel in 2026 and $105 in 2027.

  • Iran continues to block most shipping traffic through the strait, which used to carry one-fifth of the world's crude oil and liquefied natural gas before the war that broke out in late February.


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