Brent crude crosses $100 after tankers reportedly struck off Saudi Arabia
Extreme pressure is building in Middle East that could send Brent oil prices above the 2022 high of $128 per barrel after Russia invaded Ukraine, Croft said. Brent could even surpass the 2008 peak of $146 per barrel in a worst-case scenario of full-scale regional war in the Middle East, the analyst said. The Ukraine-Russia war is also putting pressure on global oil markets, Croft said.
- ▪Extreme pressure is building in Middle East that could send Brent oil prices above the 2022 high of $128 per barrel after Russia invaded Ukraine, Croft said.
- ▪Brent could even surpass the 2008 peak of $146 per barrel in a worst-case scenario of full-scale regional war in the Middle East, the analyst said.
- ▪The Ukraine-Russia war is also putting pressure on global oil markets, Croft said.
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The tanker attacks came hours after Trump warned the U.S. would destroy an Iranian bridge or power plant each time Tehran attacks a ship in the Strait of Hormuz.Iran responded by warning it would retaliate against U.S.-linked infrastructure and energy assets across the region if Washington carried out those strikes."If the Americans target a bridge or a power plant in Iran, Iran will, in turn, strike infrastructure and bridges in the region, including energy facilities where the United States has interests," an unnamed Iranian military source told state-run Tasnim News Agency.Dangerous escalationThe U.S.
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