EIA: STEO Eyes Brent at $95 bbl, WTI $88.32 bbl in 2026


   
   SECAUCUS, NJ (DTN) -- The Energy Information Administration (EIA) is keeping 
its oil price forecasts steady to slightly higher as the Middle East conflict 
and blockade of the energy-sensitive Strait of Hormuz maintain upward pressure 
on pricing, the agency's Short-Term Energy Outlook (STEO) for June, released 
Tuesday (6/9), showed.

   The EIA forecasts the 2026 average for Brent at $95, holding flat from 
expectations it mapped out in its May STEO. In 2025, Brent averaged $69 bbl. 

   For West Texas Intermediate (WTI) crude, the EIA's projection for 2026 is 
$88.32 bbl versus its $85.33 bbl expectation in May. In 2025, WTI averaged 
$65.40.

   "Based on the assumption that the Strait of Hormuz remains closed to most 
shipping traffic in the near term, falling oil inventories keep Brent prices at 
an average of $105 per barrel in June and July," the EIA said in the June STEO.

   The EIA said it models a massive full-year net inventory draw because of a 
later reopening baseline and an extended operational recovery timeline for 
regional shut-in volumes.




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