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 elect

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.