HSBC Maintains 2026 Brent Crude Forecast at $65 Amid Iran Air Strikes

HSBC Global Investment Research has maintained its Brent crude oil price forecast at USD 65 per barrel for 2026 despite recent air strikes on Iran by the United States and Israel. The bank highlighted rising risks, particularly concerning the strategic Strait of Hormuz, which could disrupt oil transit if closed. HSBC noted uncertainty about the conflict's duration and regional impact, cautioning that any escalation could affect economic sentiment, capital flows in the Gulf, and foreign exchange markets, with the US dollar expected to strengthen in the near term.