# Brent to trade above $95 for next two months on Iran war, EIA says  | Reuters

> The US Energy Information Administration said in its monthly Short-Term Energy Outlook that Brent prices will trade above $95 a barrel over the next two months because of the Iran war. The agency forecast prices falling to around $70 by year-end as Mideast output declines, with Strait of Hormuz shipments largely blocked.

- Date: 2026-03-10 · published 2026-03-10T12:00:00.000Z
- Category: report · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/8159-brent-to-trade-above-95-for-next-two-months-on-iran-war-eia-says-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A government forecast of sustained high crude prices supports biofuel demand and raises input and freight costs across feed supply chains. The expected decline toward $70 later in the year suggests the premium may fade if supply recovers.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-09-10 | [US EIA lifts oil demand forecast, says prices will recover to above $80/bbl \| Reuters](https://feedsoft.ai/events/10170-us-eia-lifts-oil-demand-forecast-says-prices-will-recover-to-above-80-bbl.md) | +1.7% | +12.8% |
| BRENT | 2026-09-09 | [US EIA hikes oil price forecasts as Iran war drains global stockpile By Reuters](https://feedsoft.ai/events/17665-us-eia-hikes-oil-price-forecasts-as-iran-war-drains-global-stockpile-by-reuters.md) | +17.0% | +10.2% |
| BRENT | 2026-03-12 | [World faces largest-ever oil supply disruption on Middle East war, IEA says \| Reuters](https://feedsoft.ai/events/9389-world-faces-largest-ever-oil-supply-disruption-on-middle-east-war-iea-says.md) | +23.1% | +16.8% |
| BRENT | 2026-10-28 | [US crude and distillate inventories fall, gasoline stocks rise, EIA says By Reuters](https://feedsoft.ai/events/271-us-crude-and-distillate-inventories-fall-gasoline-stocks-rise-eia-says-by.md) | -4.7% | — |
| BRENT | 2023-09-13 | [OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says \| Reuters](https://feedsoft.ai/events/34016-opec-cuts-to-tighten-oil-market-sharply-in-fourth-quarter-iea-says-reuters.md) | +2.6% | -3.9% |
| WTI | 2024-09-10 | [US EIA lifts oil demand forecast, says prices will recover to above $80/bbl \| Reuters](https://feedsoft.ai/events/10170-us-eia-lifts-oil-demand-forecast-says-prices-will-recover-to-above-80-bbl.md) | +2.1% | +11.9% |
| WTI | 2026-09-09 | [US EIA hikes oil price forecasts as Iran war drains global stockpile By Reuters](https://feedsoft.ai/events/17665-us-eia-hikes-oil-price-forecasts-as-iran-war-drains-global-stockpile-by-reuters.md) | +13.7% | +0.1% |
| WTI | 2026-03-12 | [World faces largest-ever oil supply disruption on Middle East war, IEA says \| Reuters](https://feedsoft.ai/events/9389-world-faces-largest-ever-oil-supply-disruption-on-middle-east-war-iea-says.md) | +10.6% | +13.9% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/brent-oil-prices-remain-above-95bbl-over-next-2-months-mideast-conflict-eia-says-2026-03-10/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.