UBS Chief Ermotti Says Energy Prices Likely to Remain High (1)

UBS Group AG Chief Executive Officer Sergio Ermotti said energy prices are likely to remain elevated as investors digest the impact of the Middle East conflict on the global economy.

“Energy prices are likely to stay high for the foreseeable future, putting some inflation pressure” on the supply chain, he said in a Bloomberg TV interview in Beijing.

Markets assumed a risk-off stance on Monday with equities and Treasuries retreating after US President Donald Trump set a deadline for Iran to reopen the key waterway that’s integral to energy flows around the world. Brent crude has surged more than 80% ...