Oil Spikes on US-Iran Tensions, Analysts Flag Supply Risks and $150 Potential
Oil prices initially surged on renewed US-Iran tensions before pulling back, but BNY's Bob Savage warns that supply disruption fears and the fragility of any peace deal could push crude as high as $150.
Oil markets saw a sharp spike after fresh US-Iran tensions reignited supply fears, though prices later eased. BNY's Bob Savage highlighted that while the initial surge moderated, analysts remain deeply concerned about the sustainability of any ceasefire or diplomatic resolution.
The risk of a severe supply crunch is still on the table, with some forecasts pointing to a potential move toward $150 per barrel. The durability of peace talks is viewed as highly uncertain, leaving the market vulnerable to further volatility.
Source: FXStreet Forex News