Brent crude holds steady at $104 per barrel as BMI analysts push back expectations for a U.S.-Iran nuclear deal, signaling sustained price pressure for the global energy market.
Brent crude prices are expected to maintain a floor above $100 per barrel due to the ongoing geopolitical impasse between the U.S. and Iran. BMI chief economist Cedric Chehab indicates that a diplomatic resolution is unlikely in the near term, with a potential agreement not anticipated until the end of the first quarter of 2027, thereby sustaining current supply constraints.
BMI forecasts that Brent crude will remain above $100 per barrel for the coming months.
BMI projects that a potential agreement between the U.S. and Iran will likely happen by the end of the first quarter of 2027.
BMI chief economist Cedric Chehab projects Brent crude prices will maintain levels above $100 per barrel in the coming months. The forecast hinges on the continued stalemate in U.S.-Iran negotiations, with a potential agreement not expected until the end of the first quarter of 2027.
The price floor is supported by the ongoing delay in a potential nuclear agreement between the U.S. and Iran, which keeps supply-side uncertainty high.