MOSCOW, August 11. /TASS/. The US Department of Energy has raised its outlook for an average Brent oil price in 2026 by 6%, to $86.81 per barrel from $81.91 per barrel, the US Energy Information Administration (EIA) said in its report.

The report says that reduced oil shipments through the Strait of Hormuz lower global oil inventories further in the coming months and keep crude oil prices near levels from the first week of August. It also forecasts the Brent crude oil spot price to average around $85 per barrel in the third quarter of 2026.

"As inventories rebuild, with most production expected to recover by early 2027, we expect the Brent spot price to gradually fall to an average of $69/b in 2027," the US agency said.

The US Department of Energy projects the average Brent oil price to average $69.39 per barrel in 2027.