BofA Sees $90 Brent as Best-Case Oil Scenario for 2026

Bank of America's head of commodities and derivatives research, Francisco Blanch, said his best-case oil-price scenario is Brent crude averaging $90 a barrel for the rest of the year. The market could move even higher if the ongoing stalemate with Iran persists or escalates into fresh fighting.

For oil and energy traders, this outlook underscores the delicate balance between supply risks and demand expectations. Brent has been volatile amid geopolitical uncertainty, particularly around Iran, a major OPEC producer. Any disruption to Iranian exports could tighten global supply, pushing prices above the $90 level. On NowPrice, live Brent and WTI charts reflect the market's reaction to these geopolitical cues, with traders closely monitoring the spread between benchmarks as a gauge of regional risk.

Looking ahead, traders should watch for any diplomatic developments regarding Iran, as well as upcoming OPEC+ meetings that could adjust production quotas. The $90 level serves as a key psychological and technical threshold; a sustained break above it could trigger further bullish momentum, while a de-escalation in tensions might lead to profit-taking. Additionally, U.S. inventory data and demand signals from China will be critical in determining whether the best-case scenario materializes.