What was said about Brent Crude Oil

Kevin expects a substantial decline in Brent if an Iran deal is achieved, suggesting the fall could exceed Goldman's roughly 35% scenario. He acknowledges that renewed attacks and infrastructure damage could instead sustain high prices, while treating the quoted 140 target as an institutional scenario.

Kevin sees further oil upside if renewed strikes trigger reciprocal attacks on energy infrastructure and alternative export routes. He adopts $140 per barrel as a plausible escalation scenario, while emphasizing that a diplomatic agreement remains possible.

Kevin hopes Brent has peaked after reaching approximately 117 and interprets diplomacy as evidence of reduced escalation risk. He expects an Iran agreement to reduce oil prices but acknowledges that infrastructure attacks could prolong expensive oil.

The host hopes Brent has peaked and interprets diplomatic activity as evidence of easing tensions. He expects an Iran agreement to lower oil prices, while no agreement would leave oil elevated and sustain inflation pressure.

Kevin attributes elevated oil prices to war-related fear, supply constraints, and changes in Chinese purchasing rather than enduring Iranian control over regional flows. He expects an agreement to remove these pressures, while observing that announced reserve releases have produced limited immediate relief.

Kevin notes Brent crude at roughly $90.50 was already up from the prior week's $85-$87.50 range, and ties further upside to the psychological effect of Iran's renewed sea-mining threats in the Strait of Hormuz. He frames the mining campaign as a deterrent that raises perceived risk for shippers, which supports oil prices.