‘Fundamentally well supplied..’: Brent crude prices expected to average $70 in FY26 despite Israel-Iran conflict, says report
Emkay Research projects Brent crude oil prices to average $70 per barrel in fiscal year 2026. This is despite Middle East tensions. Oil markets are well supplied. Production is rising from OPEC+ and non-OPEC+ nations. A ceasefire could lower prices. Gas markets could face pressure. Risks of escalation remain real. The Strait of Hormuz closure could surge global prices.
Emkay Research projects Brent crude oil prices to average $70 per barrel in fiscal year 2026. This is despite Middle East tensions. Oil markets are well supplied. Production is rising from OPEC+ and non-OPEC+ nations. A ceasefire could lower prices. Gas markets could face pressure. Risks of escalation remain real. The Strait of Hormuz closure could surge global prices.
