Key Insights
In March 2026, Brent Crude prices surged over $119 per barrel, the highest since mid-2022, due to the conflict in the Middle East.
The Strait of Hormuz, through which approximately 20% of global oil passes, was virtually shut down during the conflict, leading to significant supply disruptions.
The International Energy Agency (IEA) characterized the situation as the 'largest supply disruption in the history of the global oil market.'
AI Analysis
Brent Crude Oil prices are likely to remain volatile in the near term due to ongoing geopolitical tensions in the Middle East. A base case scenario an...
Market Outlook
Short-Term
In the immediate aftermath of the conflict, oil prices are expected to remain elevated due to ongoing supply constraints and market uncertainty. The next major catalyst will be the OPEC+ meeting scheduled for September 2026, where production quotas may be adjusted in response to the situation.
Long-Term
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