U.S. Government Raises Its Oil Price Forecast to $105 a Barrel

The U.S. Energy Information Administration, a government agency, expects Brent, the world's main oil price, to average $105 a barrel (about 42 gallons) in the last three months of 2026. That is about $14 above its forecast last month, which implied roughly $91. The model was finished October 1. It is an estimate, not today's price.