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May ' 26 Crude Oil Report

In our April 2026 edition (7-Apr-26, Brent @ $111.48), we expected Brent to test $89.26 by Jun-26 followed by a rise to $145.13 by Sep-26 before consolidating between the two levels for the rest of the year. As expected, Brent did see a corrective dip to $86.09, but that happened much earlier than our estimate of Jun-26 on talks of reopening of the Strait of Hormuz. However, Brent has resumed its upmove as the Hormuz remains closed with the double blockade of both Iran and USA. The price has been highly volatile through April along with the ups and downs of the US-Iran negotiations
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WHAT'S NEW?
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