The war between Israel and Iran has raised oil prices by 13%. Forecast – $110 per barrel
Since the start of the Iran-Israel conflict, which escalated on June 13, Brent has risen by 13% and WTI by 10%. Reuters reports.
On the morning of Monday, June 23, oil prices rose sharply to a six-month high after US strikes on three nuclear facilities in Iran.
The global benchmark, Brent futures, rose $1.52 (1.97%) to $78.53 per barrel. U.S. WTI rose $1.51 (2.04%) to $75.35 per barrel.
In the first hours of trading, both indices jumped more than 3% and reached five-month highs of $81.40 and $78.40, respectively.
According to expert Sugandha Sachdeva from the analytical company SS WealthStreet, with the current geopolitical tensions, Brent prices could reach $100, and possibly $120 per barrel.
Goldman Sachs said in a report that Brent could briefly peak at $110 a barrel if oil flows through critical waterways are halved within a month.
- On the night of June 22, the United States launched airstrikes on Iran's nuclear facilities. Trump called Tehran a "bully" and warned that attempts to respond to the attacks would be met with force. According to Fox News and CNN, Iran could have been attacked with 30 Tomahawk missiles and five to six GBU-57 bunker-busting bombs.
- Israel welcomed the US attacks on Iran, while the UN Secretary General and a number of politicians in the US condemned them.
- Iran called an emergency UN meeting after the US attack and fired missiles at Israel. 11 people were reported injured and a residential building was destroyed in Tel Aviv.