Rystad Energy's Vice President of Oil Markets, Janiv Shah, has warned that prolonged supply disruptions in the Middle East could drive Brent crude oil prices to $135 per barrel. The energy consultancy predicts that if the conflict extends for four months, prices could peak in May before stabilizing around $85 by the end of the year. In a shorter two-month disruption scenario, prices are expected to exceed $110 per barrel in April, eventually normalizing to approximately $70 by year-end. Shah emphasized the shift in focus to national energy security, highlighting the current oil prices as a significant threat to global stability.
Rystad Energy Warns of Potential Brent Oil Surge to $135 Amid Middle East Conflict
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