Commerzbank Forecasts Brent Crude at $85 per Barrel by Year-End

According to Commerzbank on June 16, the German bank forecasts Brent crude oil prices to remain around $85 per barrel through year-end. The lender's head of commodities research, Thu Lan Nguyen, stated that further negotiations between the U.S. and Iran on a new nuclear deal "could be very bumpy." The bank cautioned against expecting oil prices to fall sharply below pre-conflict levels, citing that even full reopening of the Strait of Hormuz would require considerable time for shipping and energy exports to normalize. Any rapid inventory rebuild efforts could fuel stronger near-term demand, while affected nations may seek higher strategic reserves, amplifying restocking needs.
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