From Financialexpress · Devanshi Verma · · 1m 30s
Oil Prices Near 2026 Peak
Brent crude could hit $126 or drop below $100 as geopolitical tensions drive prices near 2026 high.
In brief
Brent crude could hit $126 or drop below $100 as geopolitical tensions drive prices near 2026 high. Brent crude prices near $117/bbl amid Middle East tensions, with analysts predicting $100-120/bbl range for 2026. Originally reported by Financialexpress.
Oil Prices Near 2026 Peak
Crude prices remain elevated amid geopolitical uncertainties despite September’s supply recovery.
Brent Surges to $117/bbl
Brent crude prices surged above $117/bbl on October 23, reaching near their 2026 peak.
Geopolitical Tensions Drive Prices
Houthis’ attacks on Saudi Arabia’s infrastructure and US diplomats departing the kingdom keep prices elevated.
Analyst Insight: Risk Premium
Tim Waterer, Chief Market Analyst at KCM Trade, says oil is marching higher due to escalation signals.
Geopolitical Risk Premium
Analysts differ on risk premium: Waterer says mid-to-high teens per barrel, Hareesh V says $8-15 per barrel.
Physical Supply Tightness
Indian Basket trades at $120/bbl, significantly above Brent’s $113/bbl, indicating continued competition for physical barrels.
IEA Warns of Price Disturbances
IEA head Faith Birol warns oil prices unlikely to normalise by 2027 amid current geopolitical tensions.
Brent Price Forecast
Kotak analyst expects Brent to average $100-120/bbl for year-end, WTI $90-110/bbl.
Brent Could Reach 2026 High
Brent prices hit $126.41 in late April, nearly 7% above recent high; retest needs direct disruption to Saudi.
Conditions for $100 Drop
For Brent to fall below $100/bbl, US-Iran deal, end of Houthi attacks, and no renewed strikes on Iran are needed.
The big picture
Brent crude prices near $117/bbl amid Middle East tensions, with analysts predicting $100-120/bbl range for 2026.
