Reported 12 months ago
According to analyst Andy Lipow, oil prices could hit around $90 per barrel this year due to escalating tensions between Israel, Lebanon's Hezbollah militia, and Iran, which is a significant oil producer. The current prices are already close to this level, with Brent hovering above $86 and West Texas Intermediate above $82 per barrel. Rising demand and geopolitical concerns in the Middle East are driving the price hike, with analysts predicting a decrease in prices next year.
Source: YAHOO