Well Fargo analysts have warned that oil prices are likely to remain above their pre-Iranian levels, despite the impact of the Iran war on global supply. Despite this, the bank has increased its forecasts for oil prices this year and downgraded the commodities energy sector from neutral to unfavorable and raised its 2026 year-end crude oil targets to $70-$80 per barrel for West Texas Intermediate (WTI) and $75-$85 per barrel. The bank sees this as an opportunity to lock in profits and reinvestigate industrial metals and other industrial products.