Bank of America strategist Bla

Bank of America strategist Blanch stated bluntly that if Iran attacks nearby facilities, Brent could instantly break above $100, with European gas prices surpassing €60.

JPMorgan’s Kaneva added a critical detail: if the conflict drags on for more than three weeks, Gulf oil could have “nowhere to go.” Once storage capacity is exhausted, producers would be forced to halt output — potentially sending oil straight to $120.

Oil at 52-Week High: Can Trump Stop the March to $100?

U.S. crude oil futures (WTI) ignited on Thursday, surging 8.5% to settle near $81 per barrel, its highest level since July 2024. This spike comes as investors price in a "long-war" scenario in the Middle East, with Brent crude also breaking above the $85 mark. The market is currently grappling with a "Strait of Hormuz premium," as prediction-market odds of a closure hit an all-time high of 86%. Would supply squeeze push crude above $100? Or will a potential SPR release force a "gap fill" back toward $73?

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