OCBC Bank: Upward pressure on oil prices may persist until geopolitical tensions ease

According to Golden Ten Data on March 9, Vasu Menon, Managing Director of Investment Strategy at OCBC Bank in the East Eight District, stated that unless the flow of oil through the Strait of Hormuz resumes soon and regional tensions ease, upward pressure on oil prices may persist. It is currently uncertain whether Iran's new Supreme Leader, Mojtaba Khamenei, will change the geopolitical landscape of the Gulf region. However, given that Trump previously stated that the choice of Iran's new leader is not accepted by his administration, it is also unclear whether this will lead to further escalation of the situation, including possible military actions aimed at destabilizing or overthrowing Mojtaba.