Institution: High oil prices will persist

According to BlockBeats, on April 14, ANZ Bank strategists Daniel Hynes and Soni Kumari stated in a report that high oil prices are expected to persist. They estimate that due to the Iran war, about 10 million barrels of oil per day have disappeared from the market, which is a change from their January benchmark data.

The recovery of supply is expected to be slow, partial, and uneven until the middle of 2026. They added that easing this tension would require either a significant shock in global demand or a rapid and coordinated response on the supply side. Currently, even without the worst-case escalation of conflict, the tightness in market supply alone is sufficient to keep crude oil prices at historically high levels.

As the conflict continues, 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 rest of this year.