Brent Oil to reach the $150 level if all sanctions remain in place – Danske Bank

Commodity prices have skyrocketed from already elevated levels after the war in Ukraine broke out. Strategists at Danske Bank expect Brent Crude Oil to hit $150 if sanctions remain in place possible escalation of the war hinders trade of commodities.

Gas prices to soften over next six months

“In a scenario where all sanctions remain in place and possible escalation of the war hinders trade of commodities, we see Brent oil trading at $150/barrel over the next six months.

“In a status-quo scenario, where trade resumes without severe disruptions, we see oil prices at $125/barrel.” 

“We expect a moderation in gas prices over the next six months”.