Iran War Threatens $200 Oil
Analysis based on 9 articles · First reported Mar 27, 2026 · Last updated Mar 27, 2026
The ongoing conflict involving the United States, Israel, and Iran, particularly the closure of the Strait of Hormuz by Iran, is causing significant disruption to global energy flows. This has led to a sharp increase in Brent Crude prices, with Macquarie Group warning of a potential rise to $200 a barrel, which would severely impact global oil demand and the broader economy.
Macquarie Group has warned that Brent Crude prices could reach a record $200 a barrel if the war involving the United States, Israel, and Iran continues until June, leading to the prolonged closure of the Strait of Hormuz. This conflict has already caused Brent Crude to experience a record monthly gain in March, with prices nearing $108 a barrel after touching a crisis-high of $119.50. The closure of the Strait of Hormuz by Iran has severely restricted the flow of vital energy resources, impacting both crude and refined product prices. Analysts, including Vikas Dwivedi, outlined a 40% probability for the $200 scenario, with a 60% chance the conflict might end by the end of March. United States President Donald Trump recently extended a deadline for potential strikes on Iran's energy sites, while Iran allowed some oil tankers through the strait as a gesture.
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