BofA Warns Oil Prices May Hit $150/Barrel Amid Ongoing Iran Supply Disruptions

Bank of America (BofA) has issued a warning that global oil prices could surge to over $150 per barrel if supply disruptions caused by the ongoing war in Iran persist for an extended period.

The bank's analysis highlights the duration of these supply disruptions as the key variable determining global oil prices. According to BofA, prolonged disruptions would intensify pressure on global crude supply and demand, potentially pushing Brent crude above $150 a barrel.

While this forecast is based on a scenario where supply disruptions last for an extended period, it underscores the risks associated with ongoing conflicts in the Middle East and their potential impact on the global energy market.