A direct war between Israel and Iran could lead to substantially higher oil prices through 2025, according to Bank of America. Oil could surge by $30 to $40 per barrel if hostilities escalate into a months-long war that impacts energy infrastructure and causes disruptions to Iranian crude supplies, according to the bank. The price of Brent could spike to $130 in the second quarter while U.S. crude oil would soar to $123, they predict.
would eventually jump into the breach by releasing barrels, but this would reduce the group's spare capacity. Brent would eventually settle around $100 in 2025 while U.S. oil would come down to $93. Crude oil prices have fallen for three consecutive trading sessions in the wake of Iran's weekend missile and drone assault against Israel. U.S. oil is currently trading below $85 while Brent has slipped below $90 a barrel as futures shed the gains made in the runup to the attack.
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