Amsterdam: The average price of Brent oil is forecasted to be below $57 for the year 2026, according to a report by the Netherlands' largest financial group, ING Group. The prediction anticipates a gradual decline in oil prices, with a significant dip expected towards the end of the year.

According to Azeri-Press News Agency, ING projects the Brent oil price to reach $58 in the first quarter of 2026. The trend is expected to continue downward, with prices forecasted at $56 in the second quarter, $58 in the third quarter, and ultimately dropping to $54 in the fourth quarter. This would result in an average annual price of $56.5 for 2026.

Looking ahead to 2027, ING anticipates a rebound in oil prices. The average price of Brent oil is expected to rise to $58 in the first quarter, $60 in the second quarter, $66 in the third quarter, and settle at $63 in the fourth quarter.

In addition to its oil forecasts, ING has also revised its expectations for the natural gas market. The report indicates a downward correction for the entire year 2026 compared to previous forecasts, with the Dutch TTF hub's average gas price reduced to 33 euros for the first quarter, 28 euros for the second quarter, 27 euros for the third quarter, and 30 euros for the fourth quarter. For 2027, gas price expectations remain at 24 euros for the second and third quarters, and 27 euros for the fourth quarter.