Haynes Boone Energy Bank Price Deck Survey Analysis

This technical report presents the findings of the Haynes Boone Energy Bank Price Deck Survey, which tracks lender expectations for oil and gas pricing amid geopolitical uncertainties, particularly those arising from disruptions in the Strait of Hormuz. The survey, conducted with input from 31 energy lenders, indicates a broad expectation that oil prices will decline to below $70 per barrel by the end of the year, with a general view that recent market volatility is a temporary disruption. The report also notes that natural gas price projections remain stable, averaging $3.16 per million BTU. The survey highlights the cautious optimism among lenders regarding the return of oil and gas prices to normal levels by the end of the year, despite the ongoing instability in the Middle East. Additionally, the report outlines the variability in banks' predictions regarding the timing of price reductions, reflecting the uncertainty in the market. Overall, the findings suggest a significant divergence in short-term and long-term pricing forecasts for oil and gas.