Australia's CBA Forecasts Energy Prices Won't Return to Pre-War Levels for Extended Period

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According to Christina Clifton, senior currency strategist at Commonwealth Bank of Australia's Sydney office, energy prices will not fall back to pre-war levels for an extended period, despite the reopening of the Strait of Hormuz. While the reopening is beneficial for the global economy, the full recovery of oil and natural gas flows will require time, Clifton said on June 15. The bank expects market focus to remain on how quickly production capacity can be restored and supply chains normalized, with transportation returning to normal also taking additional time.
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