Organization: Brent crude oil prices may stay around $100 per barrel until mid-2026.

Sim Moh Siong, from the research department of Oversea-Chinese Banking Corporation Limited (OCBC) group, stated in a report that by mid-2026, Brent crude oil prices may remain high at around $100 per barrel. The commodity strategist said, "The US-Iran conflict has entered its third week, and there is no reliable way to ease the tension." Additionally, the supply through the Strait of Hormuz continues to be severely restricted, with no response from US allies to President Trump's call for joint military action to reopen the strait. OCBC has raised its quarterly forecasts for Brent crude oil and WTI crude oil prices from the first quarter of 2026 to the first quarter of 2027. For the first quarter of 2026, the bank currently forecasts the price of Brent crude oil to be $100.00 per barrel, up from the previous forecast of $70.00 per barrel.