Citibank analysts said Brent crude could remain 15–20% above pre-conflict levels—around $75 to $78 per barrel—if the Iran-Israel conflict disrupts 1.1 million bpd of Iranian oil exports:
Iran, OPEC’s third-largest producer, pumps 3.3 million bpd. Citi estimates that a 3 million bpd disruption over several months could lift prices to $90.Iranian exports have already been declining
Global supply may have already adjusted
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J.P. Morgan warned that if the conflict widened to close the Strait of Hormuz, oil could surge to $120–130.Goldman Sachs sees a $10/bbl geopolitical risk premium currently in pricesBarclays sees $85 oil if Iranian exports are halved, and above $100 in a worst-case regional war This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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