<2> Wall Street Warns Iran War Will Trigger Prolonged Energy Crisis
<3> Global Oil Prices Soar Amid Escalating Tensions
<4> Oil prices have surged to their highest levels in years as major banks warn of a prolonged energy crisis, while US President Donald Trump says the US can keep fighting in the Middle East “forever”. The escalating tensions between the US and Iran have sent shockwaves through the global energy market, with oil prices expected to push well above $100 per barrel.
<5> Goldman Sachs, Morgan Stanley, and Bank of America have all raised their oil price forecasts in recent days, citing the increased risk of supply disruptions and the potential for a wider conflict in the region. The banks’ forecasts range from $90 to $120 per barrel, with some analysts warning that prices could reach as high as $150 per barrel if the situation escalates further.
<6> The price of Brent crude oil, the global benchmark, has risen by over 10% in the past week, while the US benchmark, West Texas Intermediate (WTI), has gained over 12%. The surge in oil prices has been driven by concerns over the potential for a disruption to oil supplies from the Middle East, which accounts for around