Brent crude prices climbed to $105.11 per barrel as diplomatic efforts between the US and Iran stalled at the UN General Assembly, maintaining supply concerns regarding the Strait of Hormuz.
Goldman Sachs has adjusted its December Brent crude oil forecast to $85 per barrel, citing supply constraints linked to Middle East geopolitical tensions.
Traders have hit a record high in bearish bets against oil, with Brent put options reaching 764,000 contracts as market participants eye a potential drop to $70 by December.
Brent crude oil prices dropped below $99 per barrel amid diplomatic progress in U.S.-Iran relations and potential supply increases from Saudi Arabia.
Market participants anticipate a decline in Brent crude prices as supply chain disruptions in the Middle East begin to subside.
Bank of America warns that the conflict in Iran could drive Brent crude prices above $150 per barrel due to potential supply disruptions.
Bank of America has raised its Brent crude oil price forecast to $95 per barrel, citing geopolitical instability in the Middle East and potential supply chain risks.
Euro-area finance ministers met in Dublin to discuss potential responses to rising energy costs as Brent crude remains above $100 per barrel.
Brent crude oil prices fell to $106.57 per barrel on September 15, marking a decrease of $3.85 amid growing concerns over a potential global economic recession.
Global oil benchmarks Brent and WTI have surged to their highest levels since late May following heightened geopolitical tensions between the U.S. and Iran.
Brent crude prices climbed toward $108 per barrel after Saudi Arabia halted operations on its major East-West pipeline.
A projectile strike on a vessel in the Strait of Hormuz has disrupted critical oil shipping routes, pushing Brent crude prices above $100 per barrel in September 2026.
HSBC raised its 2026 Brent crude price forecast to $90 per barrel, citing supply disruptions in the Strait of Hormuz and the collapse of diplomatic efforts.
Brent crude oil prices have climbed above $102 per barrel, leading HSBC to revise its price forecast upward amid rising geopolitical tensions in the Middle East.
Brent crude oil prices climbed above $101 on September 9, reaching their highest point since July amid rising geopolitical tensions in the Middle East.
Brent crude oil prices have climbed above $100 per barrel as geopolitical tensions between the U.S. and Iran escalate in the Strait of Hormuz.
Brent crude oil has hit the $100 per barrel mark, driven by supply constraints and rising demand, while markets weigh the odds of record highs by year-end.
Oil prices surged as Brent reached $96.28 and WTI hit $91.48 following the destruction of five Iranian tankers by U.S. forces.
Brent crude oil prices climbed above $100 per barrel for the first time in three months following attacks on Saudi Arabian oil infrastructure.
