New Delhi
Rystad Energy warns that renewed conflict between the United States and Iran could drive crude oil prices to $150 per barrel, threatening global energy supplies. The latest escalation has strained an April ceasefire, pushing Brent crude near $95 a barrel and increasing market volatility. About 11.8 million barrels per day of production remain offline across six Gulf producers, creating one of the largest supply disruptions in modern energy markets. Analysts say strategic petroleum reserve releases, reduced Chinese imports, and alternative Saudi export routes may soften immediate impacts. However, weakening prospects for diplomacy and continued uncertainty are expected to keep oil prices volatile in coming months for governments, businesses and consumers.