Crude oil prices to cross $100? What experts predict after US, Israel attack on Iran

The recent death of Iranian Supreme Leader Ayatollah Ali Khamenei has escalated geopolitical tensions, prompting fears of significant oil supply disruptions. U.S. President Donald Trump confirmed Khamenei's death amid coordinated airstrikes by the U.S. and Israel. This development has raised concerns about the stability of the Strait of Hormuz, a critical maritime route through which over 20% of the world’s oil flows. Following these events, oil prices surged, with U.S. West Texas Intermediate (WTI) rising by 3.19% to $67.29 per barrel and Brent crude reaching $72.87. Barclays has revised its Brent crude forecast to $100 per barrel, citing the potential for supply constraints due to escalating conflict in the Middle East. Analysts emphasize that while oil prices tend to spike in response to geopolitical crises, they usually stabilize as trade flows adjust. The situation remains fluid, and the impact on global markets and inflation is a growing concern as the situation unfolds.