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Barclays says a swift normalization of flows through the Strait of Hormuz aligns with its forecast of Brent crude oil averaging $85 a barrel in 20.
Barclays forecasts Brent crude oil averaging $85 per barrel in 2026 if Hormuz flows normalize.
KEY POINTS
- Current Strait of Hormuz flows remain subdued despite a ceasefire, disrupting 13-14 million barrels daily.
- Barclays estimates global oil inventories are 1-2 million barrels per day tighter than expected pre-conflict.
- Barclays maintains its $85 Brent price view but warns of upside risk if disruptions persist.
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