Barclays: Under US-Iran Tensions, Brent Crude Oil May Rise to $80 per Barrel

Barclays Bank stated that the current high tensions between the US and Iran could push Brent crude oil prices to around $80 per barrel if there is a substantial supply disruption. The bank said, “Although an escalation of the situation may not necessarily lead to a supply interruption, and the risk premium of $3-5 per barrel in oil prices could quickly dissipate, even a daily supply disruption of just 1 million barrels would further undermine the market’s general expectation of oversupply and push Brent crude oil prices to $80 per barrel.” (Cailian Press)