UniCredit: Brent oil to average $80 by end of Q3 2026, then fall toward $70

Edoardo Campanella of UniCredit's Investment Institute forecasts that at least a partial peace deal in the Iran conflict will be reached by the end of summer. Without the Iranian crisis, oil prices could have fallen below $60 per barrel. He expects Brent crude to average around $80 per barrel by end of Q3 2026, then gradually decline toward $70 by mid-2027.