Brent crude, the benchmark in the European market, finished the session on the Intercontinental Exchange with an increase of 94 cents compared to the US$ 102.59 recorded on Tuesday.
The rise in Brent was driven by the stalemate in peace talks between the United States and Iran. Investors show a preference for a scenario where there is no diplomatic progress until the American legislative elections, scheduled for November 3rd.
Given this scenario, analysts revised their oil price projections upward for the current year. A recent survey by Reuters estimates that the average Brent quote value in 2026 will be US$ 89.05 per barrel, surpassing the US$ 85.08 calculated a month ago. This adjustment is particularly influenced by the current halt in maritime traffic in the Strait of Hormuz.