Oil price predicted to remain above $100 for rest of year
In a note on Monday, JP Morgan said its analysis "now suggests that oil prices should remain in the low $100s for most of the rest of this year, averaging $97 for 2026 as a whole". Kenya breaking news | Kenya news today |..
✨ Key Highlights
Global oil prices are predicted to stay above $100 for the rest of the year, even if the Strait of Hormuz reopens soon, according to JP Morgan. This forecast is based on ongoing supply disruptions and logistical challenges.
- Oil prices are expected to remain in the "low $100s" for most of the year, averaging $97 for 2026.
- Key players include JP Morgan, President Donald Trump, and Iran, with the conflict impacting the Strait of Hormuz.
- The market has experienced an "unprecedented supply loss of about a billion barrels of oil," with a slow normalization expected even after the waterway potentially reopens.
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Oil Price Predicted to Remain Above $100 for Rest of Year - May 2026
Global oil prices are predicted to stay above $100 for the rest of the year, even if the Strait of Hormuz reopens soon, according to JP Morgan. This forecast is based on ongoing supply disruptions and logistical challenges. Ride-hailing platform Bolt has increased its fares by 6 percent in Kenya to help drivers cope with rising fuel costs. Meanwhile, U.S. President Donald Trump intends to suspend the federal gas tax amid surging prices, according to CNN reporting.
