EnergyNotablePartialDeveloping
6.8
Brent crude drops 2.7% on demand concerns, still set for strongest weekly gain since July
Le SoirLO·GB · IR·3 days ago
At the Asia Pacific Petroleum Conference, oil industry participants signal expectations of a years-long US-Iran conflict in the Persian Gulf, with no quick resolution in sight. This sentiment implies sustained elevated oil prices and persistent supply risk, though the report is based on conference mood rather than hard data.
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Oil industry participants anticipate a prolonged US-Iran conflict in the Persian Gulf, suggesting sustained elevated oil prices and persistent supply risk. While the market has absorbed initial supply shocks, resilience is eroding due to tightening spare capacity, with the duration of the conflict and potential Strait of Hormuz disruptions remaining key uncertainties.