The US Department of Energy has increased its forecast for the average price of benchmark Brent crude for 2026 from $78.84 to $96 (+21.8%), APA-Economics reports, citing a report by the US Energy Information Administration (EIA).
The price of WTI (West Texas Intermediate) oil in 2026 is expected to be at the level of $87.41 (previous forecast – $73.61, increase – 18.7%).
At the same time, the EIA has updated its forecast for the average prices of the mentioned oil benchmarks for 2027. Thus, according to the agency’s estimates, the average price of Brent next year will be $76.09 per barrel (previous forecast – $64.47, increase – 18%), while WTI will be $72.43 (previous forecast – $60.81, increase – 19.1%).
It is noted that in 2025, the price of Brent and WTI crude stood at $69.04 and $65.4, respectively.
