Overseas Chinese Bank: In the scenario of a "severe" energy shock, Brent crude oil prices may rise to $140 per barrel.

Sim Moh Siong of the research department of Oversea-Chinese Banking Corporation Group stated in a research report that a "severe" energy shock scenario could push Brent crude oil prices up to $140 per barrel and maintain high levels until mid-2026. The commodity strategist said, "Our base scenario is for oil prices to fall below $70 per barrel by mid-year, but this scenario is being weakened by tail risks, which evoke memories of the 2022 Russia-Ukraine energy shock." The strategist added, "With increasing security risks and oil tanker transport through the Strait of Hormuz at a standstill, Brent crude oil prices have surged past $100 per barrel, leading to a global energy market scrambling for alternatives." Brent crude oil futures for the near month rose by 15.3% to $106.83 per barrel.