Capital Economics: Brent oil may rise $15-20 due to potential disruptions in the Red Sea, exacerbating recession risks.

Capital Economics stated that with the essential closure of both the Strait of Hormuz and the Bab el-Mandeb strait, Brent crude oil prices could rise by 15-20 dollars per barrel and remain above 100 dollars for a long period of time. The company's economists said: "The greater impact of the Red Sea attacks on the global economy will be reflected through the indirect effect on global oil prices." "In this scenario, the extent of the slowdown in global growth is sufficient to meet most definitions of a global recession."