Bahrain, June 2 -- Oil prices are unlikely to return to pre-war levels in the short to medium term at least, a shift that could keep inflation elevated, delay interest-rate cuts, and reshape investment returns across global markets, predicts Nigel Green, CEO of deVere Group.

Oil prices rose on Monday after Israel ordered troops to push deeper into Lebanon, renewing concerns that clashes with the Iran-backed Hezbollah group could threaten a fragile ceasefire between Washington and Tehran.

Brent crude traded around $93 a barrel before the latest escalation in the Middle East and has previously in this crisis surged above $112 as traders priced in the growing risk of supply disruptions.

Although prices have eased from peak levels, Nigel G...