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The Tribune

ICICI Bank Research sees Brent holding at $75–$85/bbl in H2 2026, turning softer in 2027 as supply rebounds

ICICI Bank Research expects Brent crude to trade in a $75–$85/bbl range in the second half of 2026 as physical markets stay tight. The bank estimates a net supply deficit of 1.6mbpd over 2026, with the gap widening to 6mbpd in May and inventories drawing by about 60 million barrels from March to May. It said the US and Iran signed a 60-day ceasefire memorandum that includes reopening the Strait of Hormuz and waivers to lift Iranian crude exports, but a supply recovery is expected to take time, according to the report.
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