US EIA raises Brent outlook to $87/b on Hormuz shipping constraints

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The US Energy Information Administration raised its Brent crude oil price forecast for 2026 to $87 per barrel, citing shipping constraints through the Strait of Hormuz that impact oil production. Increased estimates of Middle East shut-in crude output due to these constraints have influenced the outlook.

The US Energy Information Administration raised Aug. 11 its Brent crude oil price outlook for 2026 to $87/barrel, up $5 from a month ago, due to constraints on shipping through the Strait of Hormuz impacting oil production. “We have increased our estimates of Middle East shut-in crude oil production in the coming months compared with ...