Oil Prices Spike Amid Expired US-Iran Deal Deadline

Analysts are warning that oil prices could surpass $90 per barrel and potentially reach $100, exacerbating Thailand's current account deficit. The concern comes as a deadline set by the US and Iran to reach a deal to end the Middle East conflict has expired.

The Straits Times reports that Brent crude futures have hit their highest level in two years, nearing $90 per barrel. This is bad news for Thailand, which relies heavily on oil imports to fuel its economy.

'We expect Brent crude prices to rise further and potentially break the $100 mark,' said an analyst at a local bank.