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But we saved everything 🙂.
Robin Brooks points out that the recent decline in oil prices was premature. He highlights that Iran's hardliners were always expected to attempt to undermine the peace deal, and recent events have shown this to be true.
Brooks maintains that an appropriate range for oil prices would be $80-90, as previously stated, and emphasizes the necessity of a risk premium in current conditions.
Earlier, Brooks said Brent crude prices are expected to stay in the $80-90 range due to ongoing war-related risks and the need for a significant risk premium, according to a recent note. He also argued that oil prices returning to pre-war levels do not reflect an actual return to the market status quo. In a separate update, Brooks warned of potential mispricing in the market and pointed to risks for the Dollar and U.S. rates in the context of shifting oil dynamics, as detailed in a previous analysis.