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2026-04-07 08:18:22
Westpac Bank: Continued Middle East conflict will push up oil prices; average price expected to reach $120 in Q2. (1) Westpac Bank currently assumes that the Middle East conflict will continue for a longer period, followed by a long period of slow reconstruction of energy infrastructure, and that oil supply will also need time to recover. (2) Economist Sian Fenner said that the net effect of the above factors will lead to high oil prices in the second quarter. (3) She expects oil prices to average around $120 per barrel in the second quarter, which means that prices can sometimes be even higher.
