US oil prices are reportedly expected to rise above $90 per barrel by the end of the month, according to a statement from the @KobeissiLetter. The current price for WTI crude stands at $84.54, reflecting a significant increase from early July levels around $72-$73. This anticipated surge follows previous market volatility in March 2026, when prices briefly exceeded $90 due to geopolitical tensions involving the U.S. and Iran. The current pricing trajectory suggests market participants are considering the potential for further Middle East energy supply disruptions, despite official forecasts predicting a decline to $60–$70 by year-end.
Key Takeaways
The report of an expected surge above $90 per barrel appears to align with recent exchange activity, which shows an increase from early July levels.
Market pricing suggests that participants might be factoring in potential disruptions from the Middle East, despite forecasts from the EIA and J.P. Morgan indicating a future price decline.
The expectation of rising prices is consistent with increased odds in prediction markets for crude oil reaching a new all-time high by September 30.