EnergyReader · 2026-08-04 17:33

BMI Raises 2026 Brent Forecast to $86 as Q3 Extreme Volatility Warning Takes Hold

By EnergyReader Newsroom · August 4, 2026

BMI, a unit of Fitch Solutions, raised its Dated Brent forecast to an annual average of $86 per barrel for 2026 in a report sent to Rigzone by Fitch Group on Friday (2026-07-31), warning that the third quarter is set for "extreme volatility." The revision puts the full-year target roughly $7 above where ICE Brent crude front-month was trading on Tuesday (2026-08-04), at $79.06 and down 1.73% on the session. With five months left in the year, closing that gap requires a sustained rally that the current price action does not obviously support.

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ICE Brent crude futures, front-month → OPEC reference basket → Strait of Hormuz oil/LNG transit flows → China crude oil imports →

Connected coverage Stories linked to Brent through the market graph: same hub, spread, route or driver.

Suez Canal Tanker Traffic Jumps 27% as Dual Chokepoint Threat Keeps Brent Above $100 6h ago · Brent same market Brent Recovers to $103 as Hormuz Flows Remain Below Pre-Conflict Levels 6h ago · Brent same market Dubai crude's $13 premium to Brent signals Asian buyers are not pricing in a Q4 Hormuz resolution 8h ago · Dubai Crude shared: Saudi Crude Production … NYMEX WTI Rebounds to $103 as Saudi Export Detour Proves Only Partial Fix for Disrupted Pipeline 19h ago · WTI via Global Crude Balance Dubai Crude at $117 Challenges a Bearish Consensus Built on Hormuz Normalization 18h ago · Dubai Crude shared: Saudi Crude Production … Oil Holds Above $103 as Persian Gulf Tensions Keep Bond Yields Elevated 20h ago · WTI via Global Crude Balance

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