BAKU, Azerbaijan, November 11. ING Group, the Netherlands’ largest banking group, forecasts that Brent crude oil will average $90 per barrel in 2026 and $77 per barrel in 2027.
The projections are based on ING Group’s commodity market forecasts dated November 10.
According to the projections, the average price of a barrel of Brent crude is expected to reach $91 in Q3 2026 and $95 in Q4 2026.
For 2027, a gradual decline in oil prices is forecast. Specifically, the average price of Brent crude is projected to be $85 in Q1, $78 in Q2, $75 in Q3, and $70 in Q4.
Consequently, ING Group estimates the average annual oil price for 2027 at $77 per barrel. This represents a decrease of $13, or approximately 14.4%, compared to the $90 expected for 2026.
A decline in prices is also forecast for the natural gas market. According to estimates by ING Group, the average price for Dutch TTF gas futures, a key benchmark for natural gas prices in Europe, will be 60 euro/MWh in 2026 and 48 euro/MWh in 2027.
Quarterly forecasts indicate that the price of TTF gas is expected to reach 64 euro/MWh in Q3 2026 and 90 euro/MWh in Q4 2026. For 2027, the figure is projected to be 75 euro/MWh in Q1, 45 euro/MWh in Q2, 37 euro/MWh in Q3, and 35 euro/MWh in Q4.
Thus, ING Group anticipates that average prices in both the oil and natural gas markets will be lower in 2027 compared to the previous year.
