The U.S. Energy Information Administration raised its 2026 oil-price forecasts as the Iran war and Middle East supply disruptions reduced global inventories by roughly 400 million barrels this year. EIA now expects Brent crude to average $91 a barrel and West Texas Intermediate to average $84.65 in 2026, both nearly 5% above its previous estimates. Middle East production shut-ins rose to 6.7 million barrels a day in August from 5 million barrels a day in July, partly reflecting attacks on Saudi oil exports through Bab el-Mandeb and fewer departures from Yanbu port. Brent exceeded $100 a barrel on Wednesday following attacks on shipping and energy infrastructure, while October Brent and WTI futures traded at $105.65 and $99.39, respectively, at the time cited. The U.S. Strategic Petroleum Reserve held 286.6 million barrels as of Aug. 28, its lowest level since the early 1980s. Goldman Sachs separately warned that Brent could exceed $120 if Persian Gulf disruptions persist, while President Donald Trump said gasoline prices would not fall below $2 a gallon until after the midterm election.