Citi expects Brent crude to fall to $60 a barrel by year-end as shipping through the Strait of Hormuz normalises and supply concerns ease. The brokerage sees improving oil flows, while Goldman Sachs and Morgan Stanley also expect a supply surplus, signalling further downside risk for global crude prices.

Morgan Stanley slashed its Brent oil forecast to $75 a barrel, citing a looming supply glut as Strait of Hormuz traffic recovers faster than expected.

Goldman Sachs cuts Q4 2026 Brent crude forecast to $80 from $90 as Iran tensions ease and non-OPEC supply growth creates an oversupply outlook.

Supply worries have further been eased as traffic volume in Strait of Hormuz continues to increase

Citi expects Brent crude to fall to $60 a barrel by year-end as shipping through the Strait of Hormuz normalises and supply concerns ease. The brokerage sees improving oil flows,…