UBS RAISES BRENT OIL FORECAST TO $110 AS MIDDLE EAST RISKS PERSIST UBS raised its year‑end Brent crude forecast to $110 per barrel from $10…
UBS RAISES BRENT OIL FORECAST TO $110 AS MIDDLE EAST RISKS PERSIST
UBS raised its year‑end Brent crude forecast to $110 per barrel from $100, citing Middle East supply disruptions, declining inventories, and record shipping costs.
The bank also lifted its March 2027 target to $95 and June 2027 target to $90.
Global visible oil inventories have fallen by more than 500 million barrels since February, while tanker freight costs from the Middle East to China have surged to $30–$40 per barrel.