Brent Trades $3–6 Above 2026 Forecast as Markets Price Prolonged Hormuz Crisis

Brent crude settled at $89.31 on August 28, 2026, a $3–6 premium over Reuters' July full-year 2026 forecast of $85.22 (Reuters, July 31). The market is pricing a prolonged Strait of Hormuz crisis, not a short disruption — even as nearly 9 million barrels per day still transit the strait (Reuters, August 13). That gap between fear and physical flow is what's keeping gasoline and diesel costs elevated for households.