Reported 2 days ago
A recent Israeli strike on Iranian military targets has heightened geopolitical risks in the oil market, leading to a sharp increase in Brent crude prices. Analysts are now revising their oil price forecasts, with potential spikes reaching $80 a barrel if Middle East tensions escalate. If Iranian retaliation disrupts shipping in the Strait of Hormuz, prices could possibly soar to $120. Despite these short-term risks, some analysts project that prices may settle back to the lower $60s by late 2025 as supply glut concerns resurface.
Source: YAHOO