Bank of America raises Brent oil forecast to $95 on Middle East tensions

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Bank of America raises Brent oil forecast to $95 on Middle East tensions

Crude oil all time high predictions

by
Estefano Gomez

Sep. 22, 2026

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Photo by Jan Zakelj

Bank of America has raised its forecast for Brent crude oil prices to $95 per barrel from a previous estimate of $83, citing ongoing tensions in the Middle East as a key factor. The revised outlook reflects concerns about supply disruptions in critical areas such as the Strait of Hormuz, a vital passage for global oil shipments. This adjustment comes amid a backdrop of Brent crude recently above $100 per barrel, suggesting that the bank anticipates continued market tightness. The updated forecast aligns with previous expectations from the Energy Information Administration, which projected elevated prices during periods of regional conflict.

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Key Takeaways

• Bank of America’s revised oil price forecast suggests a view that Middle East tensions could sustain higher oil prices.
• Market pricing appears to reflect uncertainty over supply disruptions, consistent with scenarios where oil remains above historical averages.
• Current Brent oil levels above $100 per barrel indicate the market’s concern over persistent geopolitical risks.

What to Watch

Watch for potential developments in Middle East geopolitics, which could affect oil supply routes like the Strait of Hormuz. Any announcements from key actors such as OPEC or the International Energy Agency regarding production adjustments could also influence price expectations. Additionally, shifts in the Crude Oil All Time High Predictions market, currently at 0.5% YES for a new high by September 30 and 11% YES by December 31, could provide further insights into market sentiment regarding future price movements.

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Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.