Danske Bank forecasts Brent crude will average $80/bbl for the remainder of 2026
and rise to $85/bbl in 2027. The bank said a U.S.-Iran deal would reopen oil
shipments through the Strait of Hormuz but warned Iran’s production and exports
would take months to normalize, limiting immediate supply relief. Danske flagged
ongoing U.S. Strategic Petroleum Reserve releases as a near-term supply factor
and said Washington may maintain releases for political reasons ahead of
November’s U.S. midterm elections.
