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Brent Oil Could Skyrocket Past $150 If Wars Continue. Bank of America Warns Supply Crunch Could Last Into 2027.

Wars Continue
International Business Times Fews App News Provider
Fews App Post Time Hace 12h

Bank of America raised its oil price outlook as constrained shipments through key Middle Eastern waterways, refinery outages, and reduced exports from Russia and other major producers tighten markets. Mario Tama/Getty Images Bank of America is warning that Brent crude oil could surge above $150 a barrel if the conflict with Iran drags into next spring and disruptions to global energy supplies continue to drain already-thin inventories. According to a note reported by CNBC, the Wall Street bank raised its oil price outlook as constrained shipments through key Middle Eastern waterways, refinery outages and reduced exports from Russia and other major producers tighten both crude and refined-product markets.

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