Broker Name: DBS

Date of Report: March 2026

Excerpt from DBS report.

• Report Summary:
• DBS has raised its Brent crude oil price forecasts for 2026 to USD 75-80/bbl and for 2027 to USD 65-70/bbl due to escalating US-Iran conflict and the effective closure of the Strait of Hormuz, which is severely disrupting global energy flows.
• The ongoing conflict has led to attacks on critical Middle Eastern energy infrastructure, significant supply chain disruptions in oil, LNG, and refined products, and increased insurance and operational risks for vessels and oil services, with no immediate end to hostilities in sight.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com