Brent crude exceeds $120 per barrel by December 31, 2026

Market overview

If the Strait of Hormuz remains disrupted through mid-2026, global oil supply will tighten significantly, with weekly losses of 100 million barrels. Aramco's warning of market normalization into 2027 implies sustained upward pressure on prices.

price prediction market

Implied probability (Yes)

70%

Source: user-generated

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