Oil prices remain subdued in the third quarter, trading significantly lower than earlier in the year due to oversupply fears, sluggish global growth, and trade tensions. Wall Street predicts a surplus of 1.9 million b/d in 2026, with prices possibly sinking to the $50s per barrel next year. In contrast, Standard Chartered anticipates higher oil prices next year driven by robust demand and economic stimulus measures. U.S. supply has hit record highs, but output cuts may be needed due to low prices. Ukraine’s attacks on Russian energy infrastructure have led to increased crude exports. Meanwhile, Europe’s natural gas prices stabilize thanks to ample inventories. Europe’s LNG infrastructure buildout could lead to a supply glut, with concerns over excessive LNG production in the U.S. and potential long-term market impacts. U.S. President Trump has ordered NATO nations to shoot down Russian aircraft violating airspace and threatens sanctions on European buyers of Russian oil and gas. Europe’s gas stores are forecasted to reach maximum capacity in November.

Read more at Yahoo Finance: Standard Chartered Bucks Bearish Trend, Forecasts Oil Price Gains in 2026