Crude oil prices remain volatile, with front-month futures stabilizing between USD 100 to 110 per barrel despite recent fluctuations. Brent is currently assessed at USD 104.5 and WTI at USD 91.9. The Brent spot price reached a record USD 153.29 per barrel last week and now stands at USD 148.
OPEC reports a rising demand projection for the year, increasing by 400,000 bpd, while US crude oil production continues to hit historic highs, averaging 13.8 Mn bpd in 2026. However, geopolitical tensions, particularly in the Strait of Hormuz and the latest missile attacks in Saudi Arabia, are affecting market sentiment, with analysts expecting a prolonged impact on supply and price volatility.