🔻Reuters: Oil market prepares for high prices to continue until 2028

Reuters news agency, in an analytical report, wrote that eight months after the Iran war, oil market traders no longer expect the rise in prices to be temporary and are preparing for the continuation of high energy prices until 2028.

According to the report, the price of Brent oil futures contracts for delivery in December 2027 has risen by more than 13% since the beginning of September and has reached $86 per barrel.

Reuters writes that declining oil inventories, continued uncertainty about transporting oil through the Strait of Hormuz, and rising shipping and insurance costs have intensified traders’ concerns about the continuation of disruption in the energy market.

At the same time, high diesel prices have also fueled concerns about higher global inflation. The price of European diesel futures contracts for delivery in December 2027 for the first time has exceeded $1,000 per ton.

This comes as the International Energy Agency forecasts that global oil supply next year will increase significantly, but trading trends show that investors are doubtful about this prediction being realized.