MARCH 4, 2026 AT 11:50 AM

UBS says if the closure of Strait of Hormuz is extended beyond the next couple of weeks, Brent could see further upside north of USD 100/bbl

Importance

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UBS raises its Q1 26 Brent forecast to USD 71/bbl, implying around USD 80/bbl in March, and raises the 2026 average by USD 10/bbl to USD 72/bbl.
UBS says potential strikes on energy infrastructure, such as on Qatar LNG, could push Brent up to USD 90/bbl+, depending on severity.