Analysts had forecast a sharp rise in crude prices if the West Asia conflict extended, with some expecting Brent to reach $200 per barrel this year. Current peace negotiations may help stabilize prices ahead. Supply concerns are likely to support elevated levels, yet Goldman Sachs highlighted weaker demand in China and Western Europe, creating about $10 per barrel downside risk to its Brent forecast of $90 for the fourth quarter of 2026. The International Energy Agency estimated global oil demand would decline by 420,000 barrels per day year-on-year in 2026, reaching 104 million bpd.
