Macquarie's Global Energy Strategist, Vikas Dwivedi, has indicated that the oil price floor is expected to remain between $85 and $90 per barrel, despite easing tensions in the Middle East. This projection follows recent statements by Trump and anticipates a natural rebound to $110 per barrel until the Strait of Hormuz resumes full operations.
The report highlights that if the Strait of Hormuz remains closed, Brent crude prices could escalate to $150 per barrel by the end of April. Currently, the strait's oil transport volume is significantly reduced to 1.5 million barrels per day, compared to the usual 15 million barrels, creating a substantial daily supply gap of 13.5 million barrels.
Macquarie Predicts Oil Price Floor at $85-$90 Amid Middle East Developments
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