More enduring inflation: US exclusive

Updated Energy Price Outlook Amid Ongoing Gulf Conflict

On Monday, our team of energy analysts adjusted their core projections for energy prices in response to the prolonged conflict involving Iran and the resulting damage to vital energy facilities in the Gulf. Rabobank now anticipates that hostilities will persist through mid-April, with the Strait of Hormuz reopening only gradually thereafter.

Given the reduced likelihood of a rapid restoration of energy shipments, we have once again increased our WTI crude oil price forecasts. Our current estimates place WTI at an average of $98 per barrel in the second quarter, $88 per barrel in the third quarter, and $83 per barrel in the fourth quarter. We have also revised our 2027 projections upward.