Analyst: If tensions persist, Brent crude oil could reach $100 per barrel
Odaily reported that Phillip Nova analyst Priyanka Sachdeva pointed out in a report that if tensions continue to escalate, Brent crude oil prices could surge to $100 per barrel. She stated that although the market is currently mainly facing logistical risks rather than crude oil losses, if the attacks persist, this distinction may quickly diminish.
Sachdeva noted that the greatest risk facing the energy market would be prolonged traffic disruption in both the Mandeb Strait and the Strait of Hormuz. She added that, at that point, the market would have very limited flexibility in rearranging cargo transport routes, and shipping disruptions could quickly develop into a broader inflation problem. (Golden Ten Data)
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