UBS Expects Crude Oil To Average $84 A Barrel As It Cuts 2026-27 Forecasts

UBS, a  Swiss multinational investment bank and financial services firm,  has lowered its oil price forecasts for 2026 and 2027 amid a faster-than-expected recovery in flows through the Strait of Hormuz following an interim U.S.-Iran memorandum of understanding (MoU) signed on June 17.
The bank now expects Brent to average $84 a barrel in 2026, down $9 from its previous estimate, and $75 a barrel in 2027, a $10 cut. WTI forecasts were reduced to $79 a barrel for 2026 and $71 for 2027.
“Lower geopolitical risk and quick rebound in flows have led to a steeper price decline than we had expected,” analysts led by Henri Patricot said in a Wednesday note.
The team expects Brent to bounce ...