HSBC Joins the Downward Dog of Oil Price Forecasting

HSBC has shaved a few bucks off its oil price crystal ball this week, citing Trump’s tariff tirades and OPEC+’s decision to open the spigots wider than expected. In a note released Tuesday, the bank cut its 2025 Brent forecast to $68.50 per barrel (down from $73), and its 2026 estimate to $65 (from $70). That’s a notable downgrade, especially as the market tries to figure out if the tariff-induced panic is just short-term, or whether it is the start of a longer slog. HSBC’s revised WTI numbers came down too: $65.40 in 2025…