Iranian exports are no longer factored into global oil prices: Rapidan's Bob McNally

Rapidan Energy Group’s Bob McNally says Iran is no longer being priced into crude markets due to the U.S. blockade, implying current oil levels understate geopolitical risk. He forecasts crude prices will stay range-bound at roughly $70-$100/bbl indefinitely, signaling persistent pricing risk but limited upside surprise in the near term.

Analysis

Rapidan Energy Group’s Bob McNally says Iran is no longer being priced into crude markets due to the U.S. blockade, implying current oil levels understate geopolitical risk. He forecasts crude prices will stay range-bound at roughly $70-$100/bbl indefinitely, signaling persistent pricing risk but limited upside surprise in the near term.