Oil prices may hit $150 a barrel soon if Iran war continues, energy economist says
Rystad Energy's lead analyst warned that Brent crude could climb to $150 a barrel in short order if the Iran war drags on. A single disruption to oil flows through the Strait of Hormuz would push global prices sharply higher, he cautioned.
Speaking to CNBC, Rystad Energy lead analyst Jorge León said Brent crude could move into the $150-a-barrel range if the Iran war extends beyond a couple of weeks. Brent currently trades near $82, though tanker insurance premiums on Gulf routes have already risen more than 8%. León noted that roughly one-fifth of the world's oil moves through the Strait of Hormuz.
The assessment came hours after U.S. President Donald Trump's warning to Israeli Prime Minister Benjamin Netanyahu. Any widening of the conflict would directly affect tanker traffic, analysts said. Goldman Sachs and JPMorgan have published comparable scenarios in the $130-$150 range, while a recent OPEC+ supply boost decision fell short of market expectations.
León added that a Strategic Petroleum Reserve release would have limited effect, and that the real risks stem from any sustained blockade. This article is not investment advice.
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