Oil’s H1 Chaos Upends Wall Street Forecasts
TL;DR
Oil surged in early 2026 due to Iran-related supply shocks, sending Brent and WTI to levels not seen since 2022, then cooled as the Strait of Hormuz restarted flows and producers boosted output. The disruption forced a detour from earlier multibillion-barrel glut forecasts, with analysts cutting price targets and the IEA projecting a 2026 demand dip and a looming 2027 supply overhang as the world shifts away from fossil fuels.
- Oil's wild first half of the year upended everything Wall Street expected Yahoo Finance
- Middle East oil transit, production resumes faster than expected Axios
- The oil market has moved from fearing shortages to pricing in a very different future Business Insider
- WTI Insights by PVM CME Group
- Fallen Oil Prices Rewrite Global Energy Logic 36Kr
Want the full story? Read the original reporting
Read on Yahoo Finance