Brent Crude Could Exceed $120 per Barrel if Middle East Conflict Persists, Analyst Warns
Source Summary
RBC Capital Markets analyst Helima Croft has warned that Brent crude prices could exceed $120 per barrel by year-end if fighting in the Middle East continues. The Houthis' control of the Red Sea port of Mokha threatens maritime traffic through the Bab el-Mandeb strait and enables more direct attacks on Saudi energy infrastructure and tankers.
Why it matters
Disruption to oil supply routes and energy infrastructure in the Middle East directly affects global crude prices and energy security.
What remains uncertain
The analyst's forecast depends on whether Middle East fighting continues, which remains unresolved.
