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OCBC raised its end-2026 Brent forecast to $100 per barrel from $85 and its end-2027 forecast to $85 from $75. The bank cited persistent supply constraints, low global inventories, elevated shipping risks, and the time needed to restore disrupted supply chains.
The outlook implies tighter-than-expected crude supply and sustained shipping risks could keep energy costs elevated, supporting Brent prices. Higher crude costs can feed through to diesel and other fuel expenses for agricultural supply chains.
businesstoday.com.myNov 9, 2026After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
