Oil Prices Rise Amid Middle East War Concerns
Fears that conflicts in the Middle East will continue and supply will be cut off have caused increases in Brent and West Texas Intermediate crude oil prices.
Iran's threat of retaliation against US attacks and the escalating tension in the region have reinforced concerns about supply disruptions in the oil markets, leading prices to continue their upward movement.
Latest Status on Oil Prices
Brent crude rose to $97.34 per barrel, while US crude climbed to $92.63, supporting the upward trend in the markets. Investors continue to add risk premiums to prices due to risks around the Strait of Hormuz.
Analysts' Assessments on Supply and War
ANZ analyst Daniel Hynes stated that the conflict in the Middle East could create a prolonged stalemate and that supply constraints in the Persian Gulf could last throughout the year. It was stated that a normalization in flows is not expected before early 2027.
Goldman Sachs Price Forecasts
Goldman Sachs revised its Brent and WTI price forecasts upward on the assumption that disruptions in maritime transport will continue. The bank raised its December 2026 Brent forecast to $85 and its WTI forecast to $80.