BofA Sees $90 Brent as Best-Case Scenario on Tight Supply, Iran Stalemate
Updated
Updated · Bloomberg · May 18
BofA Sees $90 Brent as Best-Case Scenario on Tight Supply, Iran Stalemate
1 articles · Updated · Bloomberg · May 18
$90 a barrel is Bank of America's best-case forecast for Brent crude over the rest of 2026, Francisco Blanch said Monday, warning prices could climb higher.
Tight global supply is keeping a floor under oil, Blanch said, arguing the market lacks enough spare barrels for prices to retreat now.
The main downside trigger would be an end to the US-Iran blockade of the Strait of Hormuz, which is bottling up Persian Gulf shipments.
Any prolonged stalemate with Iran—or fresh fighting—would tighten the market further, reinforcing upside risk to crude prices.
With oil and LNG supplies choked, can the global economy avert a recession without a swift resolution in the Persian Gulf?
As military and diplomatic options stall, what unconventional strategies could reopen the vital Strait of Hormuz for global trade?
Beyond the energy crisis, is the world prepared for Iran's threat to weaponize the internet by targeting undersea data cables?