# James Knightley, Chief International Economist at ING, suggests that even if geopolitical tensions ease, the energy shock will persist for several months.

*business · news · 2026-04-17 · CNBC TV18*

## Key points

- Oil supply flows through the Strait of Hormuz may only reach 70% of normal by summer.
- ING projects crude prices to remain between $90 to $100 per barrel through the summer.
- US markets are more insulated from the energy shock due to energy self-sufficiency.
- Asian and European economies face greater inflation and economic pain from rising energy costs.

**Companies:** ING
**Countries:** United States, Iran, Qatar, Japan, South Korea, Taiwan, India

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/brent-crude-oil-90-100-barrel-us-israel-iran-conflict-west-asia-geopolitical-tensions-strait-of-hormuz-ing-james-knightley-19888368.htm)

---

Canonical: https://newsio.io/n/7596f878-5a60-4fa6-be08-4fc401d15596/james-knightley-chief-international-economist-at-ing-suggests-that-even-if-geopo
Summarized by Newsio from CNBC TV18. https://newsio.io/how-it-works