High oil prices are likely to persist until 2028, with markets concerned that even an end to the war will not ease energy pressures.

Reuters columnist Ron Bousso wrote that the Iran war has lasted longer than markets expected, prompting crude traders to reassess the outlook for the global energy market, with high oil prices projected to persist through 2028. Brent crude’s December 2027 futures contract has risen more than 13% since early September to $86 per barrel, hitting a record high since the contract’s launch; its December 2026 counterpart has gained around 12% over the same period. The rise in long-dated oil prices con

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