Oil forecasts rise as Mideast war ragesAnalysts are lifting their oil price estimates for this year and 2027 amid transport disruption in the Middle East, even though the potential release of reserves by the G7 and the Organisation for Economic Co-operation and Development (OECD) could help temporarily alleviate supply pressures. "We estimate about 10% of global oil supply is currently impacted by the conflict. The Strait of Hormuz typically records shipping of 18-20 million barrels per day (MBD) of crude oil. Another 2 MBD is Iran's exports, which will be crucial for the regime to fund its war. Souring public opinion and rising oil prices could force the Republicans, if not US President Donald Trump necessarily, to find a quick resolution to the conflict, he said.

Source: Bangkok Post March 12, 2026 19:21 UTC