BlockBeats news, on March 27, Macquarie Group stated that if the Iran conflict continues into June and the Strait of Hormuz remains closed, oil prices could reach a record $200 per barrel. Analysts, including Vikas Dwivedi, noted in the report that if the conflict extends into the second quarter, it would result in historically high prices. They outlined a 40% probability of this scenario occurring. Analysts stated that due to the scale of the disruption, the closure of the strait “has led to a surge in crude oil and refined product prices.” An alternative prediction with a 60% probability suggests that the conflict may end by the end of this month.
Brent crude is expected to see a historic monthly increase in March as the conflict between the U.S., Israel, and Iran shakes the oil-rich Middle East. In this conflict, Tehran authorities have monitored and nearly completely blockaded the Strait of Hormuz, severely restricting the flow of energy crucial to the global economy. Analysts stated in the March 27 report that if the strait remains closed for an extended period, “prices will need to fluctuate to levels high enough to destroy historically significant global oil demand.” The timing of the strait’s reopening and the physical damage to energy infrastructure are key factors in assessing the long-term impact on commodities. (Jinshi)
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