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Robin Brooks: Brent crude expected to remain in $80-90 range as risks persist
Robin Brooks believes Brent crude oil will likely trade within an $80-90 range for the foreseeable future, citing ongoing war-related uncertainties and a persistent risk premium in prices.
Brooks does not anticipate a drop to $60 anytime soon, noting that challenges in resolving the current conflict will keep oil prices elevated.
Brooks previously examined how a peace deal could reduce Brent crude’s risk premium, potentially bringing prices down to $85 a barrel and U.S. gas to $4 per gallon, according to his earlier analysis. In a separate note, he argued that oil prices have experienced a third major panic without any new developments since the Strait closure, as seen in his recent commentary. His current view maintains a cautious stance on the likelihood of significantly lower prices.
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