Brent Crude
1 BRENT = $76.01
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Barclays lowered its Brent forecast to $96 per barrel for 2026 and $85 for 2027 from prior $100 and $88 estimates, citing rising oil flows through the Strait of Hormuz. UBS also trimmed its near-term forecasts sharply.

Brent settled at $73.74/bbl, down 4.3%, its lowest since before the Iran war started, after 20 million barrels exited the Strait of Hormuz in the last 24 hours amid eased supply concerns from US-Iran talks and sanctions relief.

Brent rose modestly to $79.85 after US VP JD Vance warned Israel against breaking the ceasefire with Iran-backed groups, raising doubts on the 60-day extension of the US-Iran agreement.

Negotiators head to talks with a memorandum on ending the war and reopening the Strait of Hormuz, but Iran reimposed a blockade after accusing Israel; Brent crude rose more than $1 a barrel. The conflict has previously driven oil prices higher due to supply disruptions.

Brent futures fell 3% to $74.76 per barrel on June 24, the weakest level since February 27, as more tankers are set to transit the Strait of Hormuz following the U.S.-Iran ceasefire. WTI also dropped nearly 3% amid expectations of smoother crude flows.

Israel and Hezbollah reached a ceasefire agreement in Lebanon, allowing oil shipments to begin moving through the Strait of Hormuz and reducing Middle East supply disruption fears. Brent crude is set for an 8% weekly decline as a result.

U.S. and Iran concluded peace talks with Tehran securing waivers for oil and petrochemical exports; Iran re-closed the Strait of Hormuz in response to alleged violations, slowing shipping and causing Brent crude to slip $1.53 to $79.04 per barrel.

Brent crude futures rose modestly on Friday but remained on track for an 8% weekly decline to around $80.38/bbl after Israel and Hezbollah agreed to a ceasefire and a US-Iran interim deal paved the way for reopening the Strait of Hormuz. Analysts expect the accord to release over 85 million barrels into global markets, easing supply concerns.

Brent crude futures fell toward $79-80 per barrel on June 19, 2026, after US-Iran peace talks were called off but a ceasefire deal reopened the Strait of Hormuz, with shipments rising sharply and easing supply concerns. Oil prices are set for a deep weekly decline as traders weigh fading truce prospects and increased Gulf exports.

Brent crude oil rose 3% on Tuesday after the U.S. military carried out strikes in Iran, adding uncertainty over whether a peace deal will be reached soon and whether shipping flows through the Strait of Hormuz will reopen.

Brent crude futures rose over 2% in early Asian trade after the U.S. military carried out strikes in southern Iran, keeping markets on edge as a deal to end the war and open the Strait of Hormuz remained elusive.
Brent crude has shown resilience near $100-104 levels amid Middle East tensions, though daily changes remain minimal. Educational analysis highlights supply concerns without assuming continued upward trends. Investors should note that commodity prices involve significant volatility and external variables.

On May 22, 2026, Brent crude futures settled around $104.25, up 0.69-0.95% for the day, with WTI near $97, as ongoing geopolitical tensions in the Middle East continue to support prices despite some volatility from earlier peace talk reports.