Mizuho's Rochester writes "oil is now on a USD 100/bbl handle and it might be there to stay" with increasing likelihood of USD 130-150/bbl as the Middle East conflict/supply situation persists

Mizuho's Rochester indicates that oil now stabilizing around the USD 100/bbl mark suggests a lasting shift in the oil market, especially given ongoing Middle East tensions. This potential for prices to escalate towards USD 130-150/bbl presents significant implications for inflationary pressures and could influence currency dynamics, particularly with commodity-linked currencies like the CAD and AUD under scrutiny.