Oil jumps 10% on Iran conflict and could spike to $100 a barrel, analysts sayAn aerial view of the Iranian shores and the island of Qeshm in the strait of Hormuz, December 10, 2023. "While the military attacks are themselves supportive for oil prices, the key factor here ‌is the closing of the Strait of Hormuz," said Ajay Parmar, director of energy and refining at ICIS. Middle East leaders have warned ​Washington ‌that a war on Iran could lead to oil prices jumping to more than $100 a barrel, said RBC analyst Helima Croft. Barclays analysts ​also said ⁠prices could hit $100. The ‌Iran crisis also prompted ⁠Asian governments and refiners to assess ​oil stockpiles and alternative shipping routes and supplies.

Source: Bangkok Post March 01, 2026 14:51 UTC