Commerzbank raises Brent crude oil price forecast to $90 by September due to Strait of Hormuz disruptions

Commerzbank predicts Brent crude will average $90 per barrel by September and $85 by year-end due to Strait of Hormuz disruptions. The bank raised its forecast from $80, citing ongoing supply pressures and expected delays in clearing mines and restoring infrastructure. This outlook suggests oil prices will remain elevated beyond pre-crisis levels until at least 2026.