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Bank of America raises oil forecast to $95 as Iran war threatens $150 spike

The bank cited damaged infrastructure and rising geopolitical tensions in revising its year-end Brent crude outlook.

newest coverage 1d agosummary written 1d ago6 pieces2 likes & upvotes MastodonNewswiresGoogle News

What to know

  • Bank of America raised its year-end Brent crude forecast to $95/barrel (from $83), citing Iran war disruptions and damaged infrastructure.
  • The bank warned crude could exceed $150/barrel if the conflict persists and supply remains constrained.
  • Alternative shipping routes have only partially offset the shortfall, making a rapid return to normal supply unlikely.

“Bank of America warned Tuesday that oil prices may climb beyond $150 a barrel should the ongoing war in Iran continue to strain global inventories.”

Bank of America, Financial institution · Quartz ↗ · Sep 21

Bank of America Financial institution issuing oil forecastFrancisco Blanch Head of global commodities, Bank of America

Bank of America raises oil forecast to $95 as Iran war threatens $150 spike
qz.com

How it unfolded 1 development · click the chart to see its coverage articlesposts

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    “Although alternative routes and escorted Hormuz shipments have mitigated some of the shortfall, damaged infrastructure and rising geopolitical tensions make rapid normalization unlikely.”
    — Bank of America strategists (Francisco Blanch team)

    1. 2 outlets first by Quartz, 1d ago · also CNBC · read ↗

    • GeoWire@mastodon.social

      🔴 BREAKING Bank of America Warns Brent Crude Could Exceed $150 Amid Iran Conflict Risks Bank of America forecasts Brent crude oil prices could surpass $150 per barrel if prolonged conflict with Iran persists. The bank raised its oil price outlook due to tightening global supplies caused by disruptions in the... 📰 https://www…

      GeoWire@mastodon.socialMastodon1d ago1▲view on Mastodon ↗