HSBC Raises 2026 Brent Forecast to $90 as Hormuz Crisis Drags On

HSBC has hiked its Brent Crude forecast for 2026 to $90 per barrel from $80 as the Strait of Hormuz crisis is tightening markets while no clear path to de-escalation is in sight. The oil markets are unlikely to rebalance until the middle of 2027, HSBC analyst Kim Fustier wrote in a note, as cited by The Wall Street Journal. The bank’s base-case scenario for the coming weeks and months is a fragile form of understanding between the United States and Iran which would be susceptible to breakdowns and uncertainties, including in terms of shipping…