FACTBOX-HSBC raises 2026 oil forecast to $80 per barrel
March 4 (Reuters) - HSBC on Tuesday raised its 2026 average Brent oil price forecast by $15 to $80 per barrel and lifted its WTI outlook by $14 to $76.
Brent LCOc1 prices have gained more than 27% since the war involving Iran began last week, while WTI CLc1 has risen about 33%. Both benchmarks briefly topped $119 on Monday, their highest levels since mid‑2022.
Prices jumped after the conflict prompted the closure of the Strait of Hormuz, a key chokepoint through which about a fifth of global oil supply passes.
The shutdown has led major OPEC producers, Saudi Arabia, Iraq, Kuwait and the United Arab Emirates, to reduce shipments as vessel traffic across the region stalls.
Brent was down 6.7% at $92.06, while WTI fell 5.7% to $89.21 as of 1300 GMT, after U.S. President Donald Trump said the Middle East war could end soon, easing worries about prolonged supply disruptions. O/R
Brokerage/Agency | Brent | WTI | Forecasts as of | ||
| 2026 | 2027 | 2026 | 2027 |
|
HSBC | $80 | $70 | $76 | $67 | March 10, 2026 |
UBS | $72 | $70 | $68 | $66 | March 4, 2026 |
Goldman Sachs | $71 | $70 | $67 | $66 | March 4, 2026 |
Barclays | $65 |
| $61 |
| February 21, 2026 |
Wells Fargo Investment Institute | $65- $75 |
| $60-$70 |
| February 04, 2026 |
Bernstein | $80 |
|
|
| March 2, 2026 |
JPMorgan | $58 | $57 | $54 | $53 | November 24, 2025 |
Macquarie | $61 | - | $57 | - | September 30, 2025 |
Commerzbank | $60 | - | $57 | - | November 11, 2025 |
BofA | $60 | - | $57 | - | December 18, 2025 |
Citi | $62 | - | - | - | December 11, 2025 |
Deutsche Bank | $72 | - | - | - | October 13, 2025 |
Morgan Stanley | $70 |
| - | - | January 13, 2025 |
indicates end-of-period forecasts
# current as of given date, may not indicate date of revision
For a table of crude price forecasts as per Reuters' latest monthly poll, see OILPOLL
