Following a large-scale invasion of Iran by the U.S. and Israel, global oil prices have surged, with forecasts suggesting they could reach $100 per barrel.
On the first trading day following the large-scale invasion of Iran by the U.S. and Israel, international oil prices saw a significant spike, with Brent crude touching $82.37 per barrel, reflecting a 13% increase and marking the highest levels seen in over a year. As of the last trading session, Brent futures closed at $77.74, a gain of 6.7%, while West Texas Intermediate (WTI) also experienced a notable rise, closing at $71.23 per barrel. Analysts are indicating that despite the surge, the potential for sustained price increases may be limited due to the overall global supply and demand dynamics.
