Rabobank Warns Brent Could Surge Above $95.5 on Middle East Tensions

Rabobank strategist Michael Every has raised concerns that heightened geopolitical tensions in the Middle East—specifically around the Strait of Hormuz and the Red Sea—could drive Brent crude oil prices above the current $95.5 per barrel mark.

Every warns that such an escalation would not only lift crude prices but also widen crack spreads, which measure the profit margin from refining crude into petroleum products. The warning comes as energy risk premiums spike due to ongoing hostilities in key shipping lanes.

Traders are closely monitoring developments in the region, as any disruption to tanker traffic could tighten global supply and push energy costs higher.