UBS Raises 2026 and 2027 Oil Price Forecasts to $86/Barrel and $80/Barrel Respectively

Odaily News UBS Group has raised its oil price forecasts for the 2026-2027 period to reflect the closure of the Strait of Hormuz and the ongoing conflict situation in the Middle East. UBS has increased its 2026 oil price forecast by $14 to $86 per barrel and its 2027 forecast price by $10 to $80 per barrel. Analysts stated: "This forecast is based on the assumption that the conflict will continue for another 2 to 3 weeks until early April, while oil flows through the Strait of Hormuz will remain severely reduced. We assume that major oil fields and terminals will not be damaged, and flows through the Strait of Hormuz will gradually recover from April, but will not return to normal levels." (Jin10)