BlockBeats News, April 14th, ANZ Bank strategists Daniel Hynes and Soni Kumari said in a report that high oil prices are here to stay. They estimate that around 1 million barrels of oil per day have disappeared from the market due to the Iran conflict, a change from their benchmark data in January.
The recovery in supply is expected to be slow, partial, and uneven until mid-2026. They added that mitigating this tightness would require a significant shock to global demand or a rapid, coordinated response on the supply side. Currently, the tightness in market supply alone is enough to keep oil prices at historically high levels, even without the worst-case escalation of the conflict.
As the conflict persists, high oil prices will become more entrenched. ANZ Bank has raised its crude oil forecast, expecting Brent crude prices to remain above $90 per barrel for the remainder of this year.
(via Cailianshe Data App)
