50.24$US/1 Barrel
59.70$US/1 Barrel
55.10$US/1 Barrel
68.87$US/1 Barrel
75.61$US/1 Barrel
75.71$US/1 Barrel
77.66$US/1 Barrel
65.01$US/1 Barrel
64.04$US/1 Barrel
67.79$US/1 Barrel
50.11$US/1 Barrel
55.68$US/1 Barrel
55.28$US/1 Barrel
60.68$US/1 Barrel
64.72$US/1 Barrel
60.50$US/1 Barrel
62.00$US/1 Barrel
52.50$US/1 Barrel
57.50$US/1 Barrel
59.00$US/1 Barrel
485.00$US/MT
378.00$US/MT
705.00$US/MT
585.00$US/MT
508.00$US/MT
463.75$US/MT
368.00$US/MT
395.25$US/MT
678.00$US/MT
844.25$US/MT
SEATTLE (Oil Monster): According to a recent report published by SBI, the crude oil prices are now expected to stabilise around levels $65 per barrel, after U.S. President’s announcement of a ceasefire between Iran and Israel.
SBI pointed out that Iran's reaction to the recent Middle East tensions will have a significant impact on crude oil prices.
The crisis would have expanded throughout the region if Iran had decided to retaliate against the United States. The price of crude oil would have skyrocketed in such a situation, reaching as high as $130 to $140 a barrel. For nations that mostly rely on imports to meet their oil needs, the extremely high oil prices would have been a significant shock.
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In the upcoming weeks, crude oil prices would have remained stable at $80 to $90 per barrel under a second scenario, in which Iran would have made a symbolic retaliation and continued its wars with Israel.
The extreme crude oil estimates are unrealistic, according to the analysis. It further stated that only if either side employs weapons of mass destructions (WMDs)—which are currently exceedingly unlikely—could the anticipated prices surpass $130 levels be achieved.
Tensions in the region are already starting to decrease after President Trump declared a complete and total truce between the two parties. As a result, the world's oil markets might stabilize again.
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