ECB’s Lane: Oil prices for 2027 and 2028 still seen above pre-war levels
European Central Bank (ECB) Chief Economist Philip Lane said on Tuesday that the oil market has moved quite a bit since the last decision, adding that oil prices curve sees elevated levels in years ahead, suggesting costs for the economy.
Key quotes
The oil market has moved quite a bit since the last decision.
Let's see how lower oil percolates across the economy.
There has been some improvement in confidence but not to pre-war levels.
There hasn't been fast rethinking of investors and consumers.
Oil prices for 2027 and 2028 still seen above pre-war levels.
Market reaction
At press time, the EUR/USD pair trades 0.21% lower at around 1.1398.
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