TEHRAN- British bank Barclays has predicted that continued tensions in the West Asia could push Brent crude oil prices to $150 per barrel within the next month.

According to a report by Reuters, the British bank Barclays predicted on Friday (March 6) that if the conflicts in the West Asia continue for several more weeks, Brent crude oil could potentially reach $120 per barrel.

Based on this British bank's assessment, despite widespread pessimism regarding the oil market outlook heading into 2026, these figures might seem very high.

However, we emphasize that now, despite high prices, the fundamental factors are stronger and the risks are greater than those during the Russia-Ukraine tensions.

Global crude oil prices have risen sharply because the escalating conflict between the United States and the Israeli regime with Iran has, in effect, blocked the Strait of Hormuz and restricted West Asian oil supply.

Shipping through the Strait of Hormuz, through which about one-fifth of the world's oil and liquefied natural gas (LNG) passes, has been disrupted following Iran's threats to transiting ships and tankers.

As of 18:75 GMT during trading on Friday, Brent crude oil was trading at around $93.60 per barrel, and US WTI crude oil was trading at $91.62 per barrel.

Barclays stated that the volume of floating oil stored on tankers in the Persian Gulf has increased by approximately 85 million barrels since the start of the conflict, adding that risks related to oil prices continue to rise.

This British bank announced: Oil production stoppages are occurring in Iraq and Kuwait, and this situation could potentially spread over time to the United Arab Emirates and even Saudi Arabia.

Barclays stated: The previously unlikely 10% scenario now indicates that Brent oil prices could reach $150 per barrel before the end of this month.
MA