New Delhi, Aug. 26 -- Brent crude oil prices are expected to remain elevated at around USD 85 per barrel in the third quarter of 2026 before gradually easing to USD 69 per barrel in 2027 as Middle East oil production recovers, the US Energy Information Administration (EIA) said in its August Short-Term Energy Outlook.

The forecast reflects continued restrictions on oil shipments through the Strait of Hormuz, which the EIA expects to keep global oil inventories under pressure in the coming months. The agency said it has raised its estimate of Middle East crude oil production disruptions compared with its July forecast.

"We now forecast the Brent crude oil spot price to average around $85 per barrel (b) in the third quarter of 2026," the ...