Commodities
WTI Oil Price Prediction Hits 95 Amid Iran-US Conflict
US oil prices are rising amid escalating military tensions between the US and Iran. Market prediction platforms now assign a 57% chance that West Texas Intermediate (WTI) crude will reach $95 a barrel by September 30.
The conflict intensified after US strikes on Iranian rocket launchers and retaliatory missile attacks by Iran, raising fears of prolonged disruptions in the critical Strait of Hormuz. This key global oil transit route is essential for international trade.
Refinery strikes in Russia and a drawdown of the US Strategic Petroleum Reserve have also tightened supply conditions, contributing to price volatility.