The price of Brent crude oil jumped 10% on Sunday to approximately $80 per barrel, while analysts predict that prices could rise to $100 after US and Israeli strikes on Iran dragged the Middle East into a new war. This was reported by Reuters, according to UNN.
Details
It is noted that the global oil price benchmark rose on Friday and reached $73 per barrel - the highest growth level since July 2025. This was driven by growing concerns about potential attacks on Iran.
The key factor here is the closure of the Strait of Hormuz. ... We expect prices to open much closer to $100 per barrel and possibly exceed that level if we see a prolonged disruption in the strait's operation.
It is indicated that more than 20% of the world's oil volume is transported through the Strait of Hormuz. At the same time, although alternative infrastructure can be used to bypass the Strait of Hormuz, the net effect of its closure will be a loss of 8 to 10 million barrels of crude oil per day, even after redirecting some flows through Saudi Arabia's east-west pipeline and the Abu Dhabi pipeline.
Recall
According to Bloomberg, a large-scale conflict in the Middle East has jeopardized the stability of global energy markets, creating risks comparable to the upheavals of four years ago. As the Strait of Hormuz is a route for 20% of global liquefied natural gas (LNG) exports, the actual halt of tanker traffic through this waterway threatens a critical fuel shortage.