Major Banks Raise Brent Crude Oil Price Forecasts Amid Persistent Shipping Disruptions

Major financial institutions including Bank of America, Goldman Sachs, and HSBC have increased their Brent crude oil price forecasts due to ongoing shipping disruptions in the Middle East. Commerzbank raised its year-end forecast to $85 per barrel, while Goldman Sachs increased its December 2026 and 2027 targets by $5 per barrel, warning that prices could exceed $120 if exports remain constrained. HSBC adjusted its 2026 and 2027 forecasts to $90 and $85 per barrel, respectively, citing persistent impairments in the Strait of Hormuz. Bank of America raised its second-half 2026 forecast to $83 per barrel, noting that severe infrastructure damage could potentially drive prices as high as $150 per barrel.