UBS raises its year-end Brent oil forecast to $110 a barrel
As seen on the 24/7 Wall St. homepage on October 28, 2026.
A $110 year-end Brent call from UBS sets a far higher bar than rival bank targets, and it lands on energy producer margins, pump prices and headline inflation all at once.
JUST IN: UBS raises year-end Brent oil forecast to $110
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UBS set a year-end Brent target of $110 on October 28, a call that lands well above what rival banks have been projecting and signals the firm sees sustained tightness in global crude markets through the end of 2026.
A $110 Brent price, if realized, would ripple well beyond the energy sector. Energy producers would see expanded margins, but the cost pressure flows downstream to pump prices and, from there, into headline inflation figures that central banks are still watching closely.
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For equity investors, the gap between UBS's target and current prices is the number that matters most. A move of that magnitude would reprice energy stocks, squeeze transport and manufacturing margins, and complicate any narrative that inflation is durably cooling.
The forecast also raises the stakes for any position tied to rate expectations, since higher oil means stickier inflation and less room for central banks to ease. Investors in rate-sensitive sectors should keep a close eye on how other major banks respond to UBS's call in the days ahead.