Brent: Higher risk premium and retest of highs – Rabobank
Rabobank's Senior Energy Strategists Joe DeLaura and Florence Schmit revise their Brent outlook higher as Middle East disruptions tighten supply routes.
Rabobank's energy strategists, Joe DeLaura and Florence Schmit, have raised their Brent crude outlook, now predicting prices of $107 per barrel in Q4 2026 and $94 per barrel in 2027. This revision comes after disruptions in Middle East supply routes tighten routes, potentially bringing prices back to last year's highs of $126 per barrel.
Brent is trading near $106 per barrel, having broken the $100 level last week. The strategists anticipate a volatile price range between $70-75, with key support at $70-75 and resistance at $95-$100. They warn that more disruptions, such as oil flows in Hormuz or the Bab el-Mandab strait, or attacks on Yanbu or Fujairah terminals, could push prices back above $100 per barrel.
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