SocGen sees a growing likelihood of Brent topping USD 150/bbl amid the Iran war; says Brent may average USD 125/bbl in April amid the Middle East situation

The commentary from SocGen highlights the escalating tensions due to the Iran war, which they believe could significantly impact oil prices, projecting a potential rise of Brent to over USD 150 per barrel and an average of USD 125 in April. This implies strong supply concerns, which could drive further inflationary pressures and affect broader market sentiment, particularly in energy-sensitive sectors and currencies.