Dahua Bank: Due to the conflict in the Middle East, there is room for an increase in oil prices.

Dahua Bank stated in a research report that there is room for further increase in oil prices, but the extent of the increase still remains to be seen. The ongoing escalation of conflicts in the Middle East has already pushed oil prices to around $80 per barrel. The bank stated, "We believe that it is still too early to expect oil prices to reach $100 per barrel, as an important red line has not been crossed." They mentioned that Iran has not openly attacked energy facilities in the Middle East or oil tankers sailing in the region. Dahua Bank has raised its forecast for Brent crude oil to $80 per barrel for the second and third quarters, and $70 per barrel for the fourth quarter. The near-month futures for West Texas Intermediate crude oil rose by 8.6% to $72.77 per barrel, while near-month Brent crude oil futures rose by 9.3% to $79.62 per barrel.