Brent at $95: StanChart Sees Fragile Oil Equilibrium Amid Hormuz Tensions
Standard Chartered says Brent near $95 per barrel signals an uneasy equilibrium driven by Iran tensions and tight physical oil balances, with prices briefly surpassing $100 after IRGC seizures. The forward curve remains backwardated as Gulf supply constraints persist, and OPEC's MSC metric is meant to anchor future production baselines for 2027. StanChart projects prices to stay roughly $10–$20/bbl above pre-conflict levels even after the acute phase, while gas markets remain comparatively stable.