UBS Cuts Brent Forecast Archives

UBS Cuts Brent Forecast

07/02/2026 by Anne Tyler

Oil tanker travelling through the Strait of Hormuz during rising tensions between Iran and the United States

UBS has cut its Brent crude forecast after indirect talks between the United States and Iran reduced fears of further disruption in the Strait of Hormuz, pushing oil prices lower for a third consecutive session. Brent futures fell 0.9% to $70.91 a barrel on Thursday morning, while US West Texas Intermediate dropped 0.9% to $67.99. … Read more