Crude oil prices have gone ballistic. The US-Israel conflict with Iran—called Operation Roaring Lion—is sending markets into a spin. Prices haven’t hit $100 yet. But experts say we’re close.
Brent crude is trading around $81 to $83 per barrel. It touched $85 earlier this week. WTI crude sits at $74 to $77. Both are climbing fast.
Brent has jumped 20 to 25 percent in one month. Why? Everyone fears the Strait of Hormuz. Iran threatens tanker traffic there. It handles 20 percent of global oil. Shipments have slowed. Iranian oil infrastructure got hit. Retaliatory strikes followed. Supply chaos is here.
Some say oil hit $100 in China. That’s false. No reports confirm this. China has massive stockpiles. They built them in 2025. This gives short-term cushioning. But the surge is global. Not just China.
Two months ago, WTI was $60 to $65. Now we’re up 30 to 40 percent. The February 28 strikes accelerated everything.
What next? Goldman Sachs and others predict $90 to $100 plus. This happens if the strait stays blocked. Attacks on Saudi or UAE facilities would make it worse. China stockpiles and OPEC+ output increases help a bit. Alternative routes too. But only for now.
Petrol prices will rise. The US could see $5 per gallon. Inflation is coming. Bangladesh fuel costs will spike soon. We’re on day eight of conflict. Trump calls US progress “15 out of 10.” No quick end is in sight. If the strait reopens, prices ease. If not, $100 is inevitable.
Follow on Google News
