Macquarie: Oil Price Floor Remains in the $85-90 Range Even as Middle East Tensions Ease

ZkProver

2026-03-24 10:31:11

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ChainCatcher News, Macquarie Global Energy Strategist Vikas Dwivedi and his team stated in their report that even in the case of easing tensions (specifically after President Trump’s statement on Monday), the bottom of oil prices is expected to remain between $85 and $90 per barrel, and will soon naturally rebound to the $110 range until the Strait of Hormuz fully resumes navigation.

If the Strait of Hormuz remains closed, Brent crude oil prices could rise to $150 per barrel by the end of April, and refined oil prices are expected to be more than 200% higher than pre-war levels.

It is estimated that the total oil transported through this strait is 1.5 million barrels per day, far below the normal level of 15 million barrels per day, indicating a supply gap of 13.5 million barrels per day.

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