My above 4.7.22 link from the Australian govt. mentions "energy commodities" -which, obviously, includes oil.
"The outlook is for the prices of energy commodities to remain strong for longer than previously forecast, as Western nations look for alternatives to Russian energy supplies," the Department of Industry said in its resources and energy quarterly report".
Due to the western bans on Russian oil, JPMorgan recently stated the oil price could reach US$185.
https://www.cnbc.com/2022/05/31/oil-prices-eu-russian-crude.html
(See the attached video for JPMorgan comments).
My above 4.7.22 link from the Australian govt. mentions "energy...
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