$130 Oil Within Reach as Geopolitical Tensions Escalate
Brent futures have already reached $126.41 on April 30, their highest level since March 2022, making $130 a realistic target.
This is not just a distant possibility but a price that sits less than $4 above the current high, and experts believe it's within reach due to several factors contributing to rising oil prices.
The Strait of Hormuz remains a major concern as the U.S. Energy Information Administration estimates that crude oil and petroleum liquids transported through the strait averaged just 4.9 million barrels per day in the second quarter, down from 21.6 million bpd in the fourth quarter of 2025.
The combination of geopolitics, declining inventories, and disrupted shipping routes is a perfect storm that could push oil prices even higher.