Rapidan Raises Q4 Brent Forecast to $100 as Hormuz Disruptions Persist
Updated
Updated · Bloomberg · Jul 24
Rapidan Raises Q4 Brent Forecast to $100 as Hormuz Disruptions Persist
3 articles · Updated · Bloomberg · Jul 24
Summary
Rapidan Energy Group lifted its fourth-quarter Brent crude forecast to nearly $100 a barrel from $85, saying prices may stay around that level beyond July.
The upgrade reflects the breakdown of the US-Iran ceasefire and prolonged trade disruptions through the Strait of Hormuz, a key route for global oil flows.
Brent could climb into the mid-$100 range in coming months if hopes for a peace deal fade and traders start pricing in tighter supply fundamentals.
The new outlook points to a more durable oil shock, with Middle East shipping risks now seen extending through the end of the year.