Barclays raises 2026 Brent crude forecast to $85 per barrel amid Strait of Hormuz disruptions. The investment bank cited severe supply constraints linked to the Iran conflict, with oil flows through the critical shipping route reduced to a trickle and Gulf production shut-ins exceeding 10 million barrels daily. Barclays assumes normalization within two to three weeks, but warned that if disruptions extend four to six weeks, Brent could reprice to $100 per barrel. Current Brent futures settled at $103.14, up 2.67 percent Friday. Despite International Energy Agency efforts to release strategic reserves, uncertainty surrounding conflict duration continues supporting higher oil prices. Analysts see upward pressure persisting until meaningful conflict resolution emerges.
