Oil Prices Surpass $94 per Barrel amid Family Office Investment

AI Summary

Oil prices have risen to over $94 a barrel, representing a 30% increase since the onset of the Iran war in late February. As private equity firms retreat from the oil and gas sector, family offices have capitalized on this opportunity, investing despite growing ESG pressure. Investment multiples in the sector typically range from two to three times cash flow. Notably, family offices have led significant investments, including a $2 billion acquisition of PureWest Energy and a $500 million minerals fund focused on the Permian Basin, which is a major oil-producing region.