Middle East Watch: How high could Brent Oil go?
Mar 3, 2026
3 min read
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- Brent Oil hits 1-year high, revisits $80/bbl price region as expected
- Middle East conflict already disrupting oil and LNG supplies, choking Straits of Hormuz tanker traffic
- Rising oil prices could fuel global inflation, derail Fed policy outlook, and feed US voter discontent ahead of midterm elections
- Citigroup, JPMorgan, and other market watchers have forecasts ranging from $85, to as high as $150 per barrel (/bbl).
- A return to $100/bbl would mark first time world sees triple-digit Brent since 2022
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