The UK government has raised its domestic crude price forecast, saying oil could
remain around $100/bbl until 2028 even if the US and Iran reach a peace deal,
because Gulf energy supplies are now expected to take longer to restore. New
government analysis warns energy-price pressures are higher than previously
projected and that the global economic outlook has worsened. The government had
earlier assumed Gulf supply would recover about six months after hostilities
end; it now estimates recovery could take up to 14 months.
