# Global oil price forecast increases > Developing situation record from CLSTR: https://clstr.news/situations/global-oil-price-forecast-increases > Updated: 2026-10-27T22:10:29.000Z. Sources: 2. Developments: 2. Financial institutions have raised their oil price forecasts through 2027, citing various geopolitical and logistical pressures. Standard Chartered initially projected higher averages for Brent crude and West Texas Intermediate, attributing the sustained pricing to instability in the Persian Gulf, disruptions in the Strait of Hormuz, and conflicts affecting Saudi Arabian ports and pipelines. By late October, UBS further increased projections, suggesting Brent crude could hold near $110 per barrel. The focus of market challenges shifted toward logistical constraints and shipping risks, following at least 30 reported attacks near the Strait of Hormuz in October. These incidents have increased freight rates and reduced tanker capacity. Additionally, declining global inventories and recovering Chinese crude imports, alongside geopolitical risk premiums from Middle East and Russia-Ukraine tensions, continue to drive prices upward. ## Timeline ### 2026-10-27: UBS raises oil price forecasts amid shipping and supply risks UBS raised its 2027 oil forecasts, citing shipping vulnerabilities, record attacks near the Strait of Hormuz, and depleted global inventories as primary drivers for elevated Brent crude prices. 2 sources. https://clstr.news/cluster/ubs-raises-oil-price-forecasts-amid-shipping-and-supply-risks ### 2026-09-30: Standard Chartered raises oil price forecasts through 2027 Standard Chartered has raised oil price forecasts, predicting Brent and WTI prices will remain elevated through 2027 due to geopolitical instability in the Persian Gulf and disruptions to key maritime chokepont 2 sources. https://clstr.news/cluster/standard-chartered-raises-oil-price-forecasts-through-2027 --- Cite as: Global oil price forecast increases. CLSTR, https://clstr.news/situations/global-oil-price-forecast-increases