Crude oil price projected near $96 per barrel in 2026 amid tensions

The IMF forecasts the benchmark crude price to average $95.74 per barrel in 2026, well above the 2025 level of $67.74, before slipping to $87.39 in 2027. It expects oil prices to rise 41% and natural‑gas prices 48% that year, pushing fertilizer costs up 10% and food prices up 5%. Countries dependent on energy imports will face higher import bills, currency pressure, lower real incomes and tighter fiscal space.