Brent Crude Predicted to Soar to $120 as West Asia Tensions Escalate

A Brickwork Ratings report released on Monday has predicted that Brent crude prices could rise to $120 per barrel if geopolitical tensions in West Asia intensify.

The report, which assumes disruptions in the region will continue, expects Brent crude to average between $95 and $110 per barrel in the second half of FY27, with a 55% probability assigned to this base-case scenario.

Rajeev Sharan, Head of Research at Brickwork Ratings, noted that Brent futures rose about 20% in a month to around $109 on September 15, while physical Brent reached $130.80, indicating tight supply.