Barclays Warns of Upside Risk to Its $100 Oil Price Forecast for 2026

Risks to oil prices are firmly skewed higher amid plunging global oil inventories in the worst supply disruption in history, according to Barclays. The investment bank on Friday kept its $100 per barrel Brent forecast for 2026, but warned that the risks are skewed to the upside as the closure of the Strait of Hormuz has been draining U.S. and global inventories to multi-year lows. “Inventory trends are signaling a 6-8 (million bpd) deficit with the U.S. inventories within reach of the lowest levels since 2020,” analysts at Barclays…