Citi and ANZ lift Brent forecasts on ongoing Middle East supply disruptions
Citi and ANZ raised Brent crude price forecasts as Middle East supply disruptions continue to weigh on the global oil market. Citi lifted its third-quarter 2026 Brent forecast to $86 a barrel and expects the Strait of Hormuz to reopen in Q4, creating a surplus of 3 million to 4 million barrels per day. ANZ raised its short-term forecast to $95 and expects further demand destruction as inventories fall.