Rabobank Sees Brent Averaging $107 a Barrel in Second Quarter -- Market Talk

Dow Jones03-23

1316 GMT - Rabobank raised its oil price forecasts, saying it now expects Brent crude to average $107 a barrel in the second quarter. "We expect a full closure of the Strait [of Hormuz] to last until the end of April," analysts at the firm say. "Shipping will only slowly return after that and we expect crude oil and refined product flows to resume to around 80% of pre-war levels by August." The international oil benchmark was previously seen at $96 a barrel in the second quarter. Brent is estimated to fall to $96 a barrel in the third quarter and to $90 a barrel in the fourth, according to Rabobank. (giulia.petroni@wsj.com)

(END) Dow Jones Newswires

March 23, 2026 09:17 ET (13:17 GMT)

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