Analysts reassess oil price estimates as Iran conflict disrupts markets

Group 1 - Major brokerages, including Goldman Sachs and Bank of America, have revised their average oil price forecasts for 2026 due to the ongoing conflict in Iran [1] - Analysts expect oil prices to remain elevated in the near term, influenced by supply disruptions through the Strait of Hormuz, which is critical for over 20% of global oil flows [1] - Brent futures and U.S. West Texas Intermediate (WTI) futures have reached their highest levels since June 2022, with weekly increases of more than 10% and 7% respectively [1] Group 2 - Iran's new Supreme Leader, Mojtaba Khamenei, has pledged to keep the Strait of Hormuz closed as a strategic leverage against the United States and Israel, contributing to ongoing market volatility [1] - The conflict in the Middle East is causing significant disruptions, affecting millions and creating uncertainty in energy and financial markets globally [1]