With visible inventories sharply lower and Middle East supply flows disrupted, UBS now places year-end Brent at $110 a barrel, up from $100, against the backdrop of costly tanker transport.
For March 2027, UBS puts Brent at $95 a barrel; its June 2027 figure is $90. Those levels are $15 and $20 below the year-end estimate, respectively.
Shipping a barrel from Middle Eastern ports to China costs $30 to $40 in tanker freight, according to UBS. The bank also cites a drop of over 500 million barrels in visible global oil stocks since February and describes transportation costs as record-high.
Brent traded above $110 earlier in October. The National reported that UBS strategist Giovanni Staunovo saw prices staying around $110 through year-end, citing lower stocks, freight expenses, limited tanker availability and stronger Chinese imports; EconoTimes previously covered Staunovo’s outlook.
