MOSCOW, November 10. /TASS/. The US Department of Energy has sharply raised its forecast for the average price of Brent crude oil in 2026 by 1.2% to $97.44 from $96.32 per barrel, according to a report by the US Energy Information Administration (EIA).

In October, oil prices rose for the third consecutive month, driven by a decline in global inventories, attacks on oil tankers in the Persian Gulf, limited maritime shipping capacity, and rising transport costs, all of which led to a tightening of supply, the report said.

The spot price for Brent crude is expected to remain at around $100 per barrel by the end of this year. In 2027, the price of Brent crude is expected to average $85.78 per barrel.