Oil could hit $80 as Israel-Iran conflict raises supply fears
Mar 1st 2026
Brent and WTI jumped after strikes and retaliation between Israel and Iran, prompting analysts to warn that sustained disruption to Gulf supplies could push Brent toward $80 a barrel.
- Barclays warns Brent could reach about $80 a barrel if the conflict causes a significant supply disruption.
- Brent and WTI rose over 3% in the last session, closing near $72.87 and $67.29 respectively.
- Crude is up roughly 20% year to date in 2026, a gain of about $12.21 per barrel.
- About 13 million barrels per day, or roughly 31% of seaborne crude, transit the Strait of Hormuz, heightening disruption risk.
- Analysts say higher oil would likely pressure equity markets and squeeze margins for oil marketing, tyre, and paint companies.
- Traders and analysts expect choppy trading in the near term with some forecasts of Brent testing $75 and WTI $70.