Standard Chartered Predicts Oil Price Surge Amid Middle East Tensions

Standard Chartered has revised its oil forecasts, anticipating a potential rise due to escalating tensions in the Middle East. The bank highlights the risk of impaired production from Iran or other regional producers if the conflict worsens.

In response to these concerns, Standard Chartered has increased its Brent crude oil price forecast for the first quarter of 2026 to $74 per barrel, up from an earlier projection of $62. Similarly, the second-quarter forecast has been adjusted to $67 from $63.

Overall, the bank's 2026 average forecast has climbed to $70 per barrel, compared to a previous estimate of $63.50, reflecting the increased uncertainty in global oil markets.