UBS raises December oil price forecast by $5
UBS lifted its December oil price forecast by $5 a barrel, citing lower inventories and escalating attacks in the Strait of Hormuz; it now expects Brent to reach $100 by year-end.
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01:47:25 PM UTC
SquawkNews
1344 GMT - UBS raises its December oil price forecast by $5 a barrel, citing continued declines in inventories and escalating attacks in the Strait of Hormuz, which have prompted markets to price in a higher geopolitical risk premium. The bank now expects Brent crude to reach $100 a barrel by year-end, while WTI is forecast at $96 a barrel. The outlook, however, remains highly uncertain, reflecting the unpredictable course of the conflict in the Middle East and the pace of recovery in Gulf production, UBS says. (giulia.petroni@wsj.com) (END) Dow Jones Newswires October 07, 2026 09:44 ET (13:44 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.