Bank of America analysts have raised their estimates for Brent crude prices in the second half of 2026, citing ongoing geopolitical tensions. The bank lifted its forecast to $95 a barrel from $83 a barrel
A total of 17 commodity vessels transited the Strait of Hormuz over the weekend, down from 37 a week earlier, shipping data showed, as tension in the Gulf persisted with the US and Iran in stalemate
Brent crude futures for November delivery rose 2.2% to above $108 a barrel in London, as markets continued to monitor tensions in the Middle East
The seven-day moving average of covert oil shipments escorted by the US Navy through the Strait of Hormuz is rising and will continue to increase, US Energy Secretary Chris Wright said
Oil prices rose to their highest levels in three weeks as uncertainty over shipping through the Strait of Hormuz and ongoing supply disruptions supported the market
OPEC oil output rose further in July, a Reuters survey found, as Gulf members restored supplies that were shut due to the Iran war and effective closure of the Strait of Hormuz
Oil prices edged lower as investors assessed signs that the Gulf states and Iran are moving closer to an agreement to reopen the Strait of Hormuz under a temporary arrangement designed to pave the way for broader negotiations aimed at ending the regional conflict
Goldman Sachs expects Brent crude to trade in an $80–90 per barrel range until either a new agreement is reached between the United States and Iran or the conflict in the region escalates significantly through broader attacks or new targets
OPEC+ oil-producing countries will likely agree a further hike in output targets from September, even though the Iran war is again hindering some of its members from pumping more
The International Energy Agency (IEA) said it is closely monitoring oil markets as rising tensions in the Middle East fuel concerns over energy supply security
