Lates News

In a report, OCBC Bank's commodity strategist, Sim Moh Siong, stated that Brent crude oil prices are likely to remain high and fluctuate around $100 per barrel before the mid-2026. The US-Iran conflict has entered its third week with no credible signs of de-escalation. Additionally, oil transport in the Hormuz Strait remains severely disrupted, with no response from US partners to President Trump's call for joint military action to reopen the waterway. OCBC Bank has revised its quarterly forecasts for Brent and WTI crude oil from the first quarter of 2026 to the first quarter of 2027. The bank currently predicts Brent crude oil prices to be $100 per barrel in the first quarter of 2026, up from the previous forecast of $70 per barrel.