Experts forecast Brent crude prices to remain between $95-115 per barrel

MOSCOW, September 14. /TASS/. The price of Brent crude will hover around $95-115 per barrel in the near term, while a surge to $150 is not currently seen as a base-case scenario, experts surveyed by TASS believe.

Alexey Belogoryev, Research Director at the Institute for Energy and Finance, noted that many oil futures traders were "badly burned" in the spring and summer of 2026 after betting on a much stronger and more sustained price rally, leaving them skeptical about prospects for further growth.

"Therefore, I would expect prices to hold within the $95-115 per barrel range for Brent for now. If the situation does not improve fundamentally by the end of the year, a move toward $150 is indeed possible, though it is far from the base-case scenario at this stage," he said.

Nikolay Dudchenko, an analyst at Finam Financial Group, also downplayed the likelihood of prices hitting $150, though he admitted a potential rise to $120. "It appears that national oil reserves may still be sufficient to curb further price growth. Moreover, high oil prices could eventually impact demand itself, leading to its gradual destruction," he explained.

The average oil price for 2026 is projected at $93-95 per barrel by Belogoryev, and $80-90 under Finam's base-case scenario, according to Dudchenko.

Analysts explained that the Middle East conflict and the lack of progress toward its resolution remain the key factors driving prices, alongside declining crude and petroleum product inventories and upward pressure from rising refined product costs. Brent crude futures for November delivery on the ICE currently trade at $107.9, up 3.15% from the previous close.