LilMikeSFWith a #BrentCrude price now trading above $100 per barrel, and US lead-duh #Drumpf proudly announcing to #LoveTheInflation, #oil costs are estimated to cost global markets an additional $730 Billion $ through 2027. #USA & #Israel attacks across #MiddleEast and ugly #Hormuz disruptions are deeply affecting worldwide #economic outlook as the prediction of $110 to $120 per barrel are very common by financial experts. The costs associated with the #US war on #Iran have put supplies at a 20-year low.
Enverus sees Brent above $100 through 2027 after Hormuz disruption
Even as flows through the Strait of Hormuz gradually improve, Enverus warns the damage to global oil inventories may already be done. New modeling suggests OECD stocks could fall to a 20-year low, keeping Brent above $100/bbl well into 2027.
Stephen Gutknecht