Global Economy
Will oil reach $150 a barrel as tensions escalate between Israel and Iran?
As Israeli strikes on Iranian targets escalate tensions, fears are mounting that a wider conflict could close the Strait of Hormuz—a critical chokepoint for 30 percent of the world’s oil. Analysts warn that if this lifeline is disrupted, oil prices could soar to USD150 per barrel, igniting a global energy crisis. While Saudi Arabia and the UAE have built strategic alternatives, experts agree: prolonged conflict would send shockwaves through fragile markets, spike insurance and commodity costs, and usher in a new era where geopolitics dominate energy pricing.
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