EIA Raises 2026 Brent Forecast to $97/bbl, Sees $86 in 2027

The EIA's upward revision matters less for its size than for its direction: the official forecaster now sees Brent averaging well above recent norms through 2026, with only partial relief in 2027. That framing matters for anyone exposed to energy costs, from refiners to tokenized commodity products, while the unchanged U.S. production path implies the agency expects supply to stay steady rather than respond to higher prices. Whether the production outlook holds as the price forecast rises is the open question.