[Morgan Stanley Lowers Oil Price Forecast as Hormuz Strait Reopens Faster Than Expected] According to a report by Jinse Finance on June 30, Morgan Stanley analysts, including Martijn Rats, wrote in a report that the reopening of the Hormuz Strait was faster than expected, coupled with U.S. exports remaining at high levels, prompting the bank to lower its Brent crude oil price forecast. - Q3 2026 oil price forecast lowered by $15 to $75 per barrel; - Q4 2026: lowered by $5 to $75; - Q1 and Q2 2027: lowered by $5 to $75; - Q3 and Q4 2027: lowered by $10 to $70. 'To achieve market balance in 2027, oil transportation through the Hormuz Strait only needs to recover to 11–12 million barrels per day, approximately 65% of pre-conflict levels.' 'Looking ahead to 2027, our model assumes this figure will be exceeded, and observable inventories will increase by 3 million barrels per day, which could put pressure on oil prices.'