Baosheng Bank: Despite ongoing tensions in the Middle East, oil prices may have peaked

ME News message. On April 16 (UTC+8), Norbert Rucker, Head of Economics and Next Generation Research at Swiss UBS, said that although tensions in the Middle East continue, oil prices may already have peaked. He noted that crude oil demand still exceeds supply, and trade through the Strait of Hormuz must ultimately normalize to avoid greater shocks. However, the worst period may already be over. “The current crisis appears most similar to the Gulf War in 1990, when it caused a brief oil price shock. Using that as a reference, oil prices may already have peaked.”(Jin十) (Source: ODAILY)