The Energy Information Administration hiked its forecast of oil prices for the fourth quarter of the year as flows remain tight due to ongoing conflicts around the war and particularly in the Middle East.
In a new overview, the EIA said it estimates that oil flows in the region will remain constrained in the last quarter of the year. "We now forecast the Brent crude oil spot price will average $105 per barrel (b) in 4Q26, $14/b higher than in last month's" forecast, the document said.
