Oil prices to stay elevated across Iran war scenarios

Analysts polled by Reuters warn oil prices could surge well beyond current levels if the Iran war leads to an effective closure of the Strait of Hormuz and attacks on Middle Eastern production facilities, sharply reducing global crude supplies. With no clear timeline for flows to resume, the shock would likely trigger volatile, risk-off market moves and sustained upward pressure on energy and commodity prices.

Analysis

Analysts polled by Reuters warn oil prices could surge well beyond current levels if the Iran war leads to an effective closure of the Strait of Hormuz and attacks on Middle Eastern production facilities, sharply reducing global crude supplies. With no clear timeline for flows to resume, the shock would likely trigger volatile, risk-off market moves and sustained upward pressure on energy and commodity prices.