CBA sees Brent oil futures trading at US$70-US$100 in H2 2026 amid volatility - XLE News | RalliesCBA sees Brent oil futures trading at US$70-US$100 in H2 2026 amid volatility
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XLE• Brent outlook and volatility through 2026
- Commonwealth Bank analysis flagged diesel shortages as the bigger risk than crude-price headlines, citing tightening refined product inventories.
- Brent slid to USD 70 on July 2 as Strait of Hormuz flows rebounded following a June 17 US-Iran MoU.
- Prices surged toward USD 100 from July 7 as US-Iran violence escalated, stoking fears of global oil and product stock depletion.
- Brent dipped to USD 78 in early August, then rebounded to USD 95-100 on shifting expectations for a US-Iran deal.
- Forecast range held at USD 70-100 for Brent in 2H 2026, with elevated volatility.
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