Barclays maintains its 2026 Brent crude oil average price forecast of $100, and expects a supply gap to emerge in the third quarter.

BlockBeats News, June 16 — Barclays Bank stated that driven by strong cyclical demand, the global crude oil market may experience a slight supply shortfall in the third quarter of 2026, marking one of the strongest demand cycle performances since 2022.

The bank maintains its forecast of an average Brent crude oil price of $100 per barrel in 2026 and believes that the resumption of navigation freedom through the Strait of Hormuz roughly aligns with its baseline expectation of returning to normal navigation by the end of June.

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