Oil could top $150 a barrel if supplies further tighten, Bank of America warns

Oil could top $150 a barrel if supplies further tighten, Bank of America warns Oil could top $150 a barrel if supplies further tighten, Bank of America warns Bank of America has lifted its forecast for Brent crude for 2026 from $83 a barrel to $95 a barrel. Oil prices could reach upward of $150 a barrel if inventories continue to deplete as the war in Iran rages on, according to Bank of America. The New York-headquartered investment bank has raised its year-end forecast for Brent crude from $83 a barrel to a new target of $95 a barrel.

It comes as traffic in the Strait of Hormuz — responsible for about a third of the global crude oil trade — has been severely constrained, while Saudi Arabia’s energy infrastructure has been targeted by the Iran-backed Houthi rebels, temporarily bringing some operations to a halt. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it. I agree to the Terms of Use, Privacy Notice and Cookie Notice.

I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time. fell below the $100 and the $90 a barrel marks, respectively, early Tuesday after reported that the country’s oil giant, Saudi Aramco, was resuming work at its East-West pipeline and could restart shipping from the port city of Yanbu on the Red Sea as soon as later today. The strategists said they expect an average price for Brent crude of about $80 a barrel in 2027, although noted the challenge presented by strategic stockpiles falling and markets pointing to acute shortages in the near-term.

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