Oil: War escalation risks keep prices elevated – ING
ING analysts Ewa Manthey and Warren Patterson note that Oil prices rebounded strongly, with Brent above $107/bbl and WTI near $106/bbl, after US President Donald Trump threatened a further escalation of the conflict with Iran. They highlight that even if flows through the Strait of Hormuz resume, a return to pre‑war conditions will be slow as production and logistics normalise.
Trump threats sustain elevated Oil prices
"Oil rebounded sharply on Thursday, rising more than 5% after two days of declines, as US President Donald Trump threatened a further escalation of the war with Iran, injecting fresh uncertainty into energy markets."
"Brent was trading above $107/bbl, while WTI was close to $106/bbl on Thursday morning following Trump’s address to the nation last night."
"Even if shipping through the Strait of Hormuz resumes, a return to pre‑war market conditions is likely to be slow, as upstream production restarts, logistics normalisation and inventory rebuilding will take time."
"US inventory data were mixed."
"In refined products, gasoline and distillate stocks fell by 0.6m barrels and 2.1m barrels, respectively, reflecting weak refinery runs despite rising implied demand amid heightened supply concerns."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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