Global oil prices are expected to remain elevated, with potential to reach $150-$200 per barrel if the Iran conflict persists.
The closure of the Strait of Hormuz severely impacts global oil and LPG supplies, leading to price surges and potential months-long recovery periods.
The long-term effects of the conflicts include a permanent risk premium on oil prices, a broad supply shock affecting sectors like fertilisers and semiconductors, and a redrawing of assumptions
