Macquarie forecasts Brent hitting a floor of USD 85-90/bbl if the Iranian tensions decrease; says USD 150/bbl is still an option if the Strait of Hormuz remains shut until April

Macquarie's outlook suggests that Brent crude may find a support range of USD 85-90 per barrel if Iranian tensions ease, indicating potential for a stabilization in prices. However, the possibility of escalating to USD 150 per barrel underscores how critical the Strait of Hormuz's operational status is to supply dynamics, reflecting a significant risk premium in the market.