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

Newsquawk StaffOil newsPublished 24 Mar 2026, 08:06 UTC

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08:10

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08:05

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07:46

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

07:35

SMFG (8316 JT) is reportedly working on plans for a potential takeover of Jefferies (JEF), FT writes citing sources

07:33

Chinese Commerce Minister Wang Wentao meets the US-China Business Council delegation; details light

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Context

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.

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