Geopolitical tensions between the US and Iran have peaked with a deadline to reopen the Strait of Hormuz. Reports of strikes on Kharg Island and a threat to close the Bab al-Mandeb Strait risk a massive oil supply shock, potentially driving crude prices toward $150/bbl. We break down the three key price scenarios for WTI and Brent.
07-04-2026 14:55 GMT
by Zain Vawda