UBS lowers Brent crude oil price forecast to $80 per barrel in Q3 and Q4

On July 2nd, UBS lowered its Brent crude oil price forecast for the third and fourth quarters to $80 per barrel, and lowered its 2027 Brent crude oil average price forecast to $75 per barrel. The signing of a memorandum of understanding between the United States and Iran and the increase in oil flows in the Strait of Hormuz have prompted UBS to lower its recent oil price forecast.