OCBC Group Research cuts its quarterly forecasts for oil through 2Q 2027 as Strait of Hormuz's flows rebound. "Shipping traffic--and thus oil flows--through the Strait of Hormuz has picked up following the U.S.-Iran memorandum of understanding," two OCBC strategists say in a research report. "Expectations of normalized flows quickly pushed crude prices back to pre-conflict levels, reviving the oversupply narrative," the strategists say. OCBC lowers its Brent oil forecasts to $75 per barrel from $85 a barrel for 3Q 2026, to $75 per barrel from $80 a barrel for 4Q 2026, to $73 a barrel from $75 per barrel for 1Q 2027, and to $71 a barrel from $75 per barrel for 2Q 2027. Front-month Brent crude oil futures are 0.9% lower at $70.90 per barrel. (ronnie.harui@wsj.com)