0946 ET - Bank of America raises its Brent price estimates citing the "exceptionally large supply disruption," that has reduced crude and refined-product availability. "Continued skirmishes into year-end are now our most likely scenario," Francisco Blanch of BofA Global Research says in a note. "Although alternative routes and escorted Hormuz shipments have mitigated some of the shortfall, damaged infrastructure and rising geopolitical tensions make rapid normalization unlikely." BofA expects Brent to average $95 a barrel in 2H26, up from the previous estimate of $83 a barrel, and raises its estimate for 2027 to $80 from $75 a barrel.