Oil markets are likely to face only a short-term shock even if tensions escalate in the Strait of Hormuz, said Ray Farris, chief economist at Eastspring Investments. Speaking to CNA’s East Asia Tonight, he said oil prices typically “mean revert” within months, and even a move towards US$100 a barrel would not be unusual by historical standards. With inflation low outside the United States and a strong global capex cycle — including AI investment and expected fiscal stimulus at China’s upcoming

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