ANZ Raises Brent Forecast to $95 as Supply Buffer Shrinks

ANZ raised its short-term Brent crude price forecast to $95 per barrel on Friday. According to Sina Finance, analysts including Daniel Hynes and Soni Kumari wrote that rebuilding depleted global inventories would require further demand restraint, meaning oil prices will remain elevated in the foreseeable future. They added that if the Middle East conflict escalates further, oil prices have room to rise, and that Brent will fall back to $85-$90 per barrel in 2027 as Gulf-region supply gradually recovers. In an August 31 report, ANZ had forecast oil at $92 per barrel by the end of the third quarter.