The reference forecast has as its core assumption of a relatively limited conflict that gets resolved in the second half of the year and then with energy prices that are normalizing in that second half of the year and into next year. Very clearly, with every day that passes, where we don't have a resolution, where the flow of oil and gas is more limited through the Strait of Hormuz, we're moving away from that scenario.
5d ago
Underscored — save the words that stop you in your tracks.
