Jyske Bank Forecasts Brent Crude at $93/bbl in Q3 2026, Predicts Long Recovery Process

According to Jyske Bank, on June 15, despite the U.S.-Iran agreement opening the Strait of Hormuz to shipping and Brent crude prices falling near $80 per barrel, the Danish bank warned that oil production and logistics recovery face "significant challenges." The bank expects crude inventory declines to persist through September, maintaining its third-quarter 2026 Brent forecast at $93 per barrel, declining to $75 per barrel by Q2 2027. For liquefied natural gas, Qatar's export resumption speed to Asia will be critical. Jyske Bank noted that diesel prices are unlikely to fall significantly as the Strait's reopening will involve a lengthy and difficult normalization process.
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