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World oil prices

Oil price may reach $85/bbl due to conflict in Middle East — forecast

According to the analysts, the base case scenario with the probability of 75% comprises the preserved oil production and supply infrastructure amid the "glowing conflict"

ASTANA, March 5. /TASS/. Oil prices will most probably settle at $80-85 per barrel in the near term amid the conflict in the Middle East, analysts of Kazakhstan-based Halyk Finance said.

Two main scenarios of developments and oil prices are identified, the company said. The base case with the probability of 75% comprises the preserved oil production and supply infrastructure amid the "glowing conflict."

"We expect Donald Trump will announce ‘neutralization’ of Iranian threat until the end of the month and [Brent oil] will stabilize at $80-85 [per barrel] in the controlled escalation logic," the forecast indicates.

The second scenario estimated at 25% stipulates significant interruptions in oil supplies if Iran attacks oil producing infrastructure of other Persian Gulf countries, ports and ships. "Brent is above $100 per barrel in this scenario," the company added.

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