Following UBS, JPMorgan Chase, Bank of America, Goldman Sachs, and Morgan Stanley, Barclays has also lowered its oil price expectations.

Barclays Bank: Downgrades Brent crude price forecast, lowering the expectation for 2026 from $100 per barrel to $96, and for 2027 from $88 to $85, citing the recovery of oil transportation in the Strait of Hormuz. Oil flow in the Strait of Hormuz has significantly rebounded, reaching around 80% of pre-war levels. However, this normalization process is not yet complete. The bank stated that Iran asserts control through imposing fees and coordinating mechanisms, creating friction and potentially causing delays in full recovery. An interim agreement reached last week aimed at ending the US-Israeli war against Iran has allowed for the resumption of traffic in the Strait of Hormuz shipping routes.