Dow Jones Securities: Due to the impact of the Iran conflict, oil prices and base metal prices for 2026 are now expected to increase, while precious metal prices are expected to decrease.

Dow Jones Securities stated that as the conflict in Iran continues, the bank is raising its quarterly and annual price forecasts for crude oil and most base metals, while significantly lowering price expectations for precious metals due to rising inflation expectations, a strong US dollar, and a sharp increase in yield curve. However, the bank expects gold, silver, and platinum to rebound strongly as energy shocks weaken later this year. Dow Jones Securities has raised its annual average price forecast for West Texas Intermediate crude oil and Brent crude oil in 2026 by 36% to $85.25 per barrel and $89.75 per barrel, respectively. The bank has raised its aluminum price forecast by 17% to $3,481 per ton. The annual average price forecasts for gold and silver have been lowered by 1% to $4,800 per ounce and $74.75 per ounce, respectively, and the price forecast for platinum has been lowered by 2% to $2,024 per ounce.