OIL DEMAND DESTRUCTION ABOVE $155/BBL Oil demand would likely only fall if prices surge to around $155 per barrel, according to AllianceBernstein analyst Irene Himona. That level would match the 5.2% oil burden last seen in 2007, when high prices began to curb consumption. The spike in Brent crude oil benchmark—from $80–$85 to about $100–$110—reflects a “war-price discovery” phase after the Strait of Hormuz closed, disrupting supply in Iraq, United Arab Emirates, and Saudi Arabia. Bernstein estimates that losing 20% of global oil and LNG supply could push 2026 Brent averages above $90 with a three-month disruption and above $110 with six months, with spikes higher. Prolonged conflict could eventually trigger recession risks and pressure energy stocks.(*Walter Bloomberg)