Oil Prices Set Higher Floor as Hormuz Turbulence Persists, StanChart Warns
StanChart says oil prices will stay higher for longer due to ongoing Strait of Hormuz disruptions and Middle East supply cuts, lifting Brent forecasts to about $85.50/bbl for 2026 and $77.50/bbl for 2027 with quarterly paths showing a spike to roughly $98/bbl in Q2 2026 before easing. The record IEA reserve release helps establish a price floor in the low‑to‑mid $70s, while LNG disruptions are pushing Asian buyers toward coal and nuclear as they reassess energy security.