Bank of America: $90 Oil Now a "Best Case Scenario," Could Reach $130 in Early July if Dual Blockade Persists

Odaily Planet Daily News The head of commodity and derivatives research at Bank of America stated that his best-case scenario for oil prices is Brent crude averaging $90 per barrel for the remainder of this year. However, if the standoff with Iran continues or escalates due to new conflicts, markets could move significantly higher.

As a short-term resolution to the Strait of Hormuz crisis appears increasingly distant, a growing number of Wall Street strategists expect Brent crude to hover around $90 per barrel for the rest of the year. A few weeks ago, Goldman Sachs raised its year-end Brent crude oil price forecast to around $90 per barrel, while its WTI crude oil price forecast stands at $83. (Jin Shi)