S&P has increased its 2026 oil price forecasts, citing ongoing supply disruptions and geopolitical risks. The firm raised its target prices for WTI and Brent crude by $15 per barrel, setting them at $95 and $100 respectively for 2026. The adjustments reflect concerns over the stalemate in U.S.-Iran nuclear talks and potential vulnerabilities in the Strait of Hormuz, which could affect oil flow stability. S&P emphasized that even if the Strait of Hormuz reopens, oil flows might recover slowly and remain prone to disruptions. The firm also highlighted the necessity for higher oil prices to curb demand and balance global supply. Forecasts for 2028 and beyond remain unchanged.