How High Will Oil Prices Go on a Middle East Supply Disruption? ...Middle East

Crude oil prices could rise by between 15% and 20% from pre-war levels in case of disruption of 1.1 million barrels daily in production, Citi analysts have said, putting Brent crude’s wartime price at between $75 and $78 per barrel. If the supply disruption is larger, above 3 million barrels daily, Brent crude could hit $90, the bank also said. Earlier today, Brent topped $77 per barrel, with ING the latest to say it could top $120 per barrel in the case of a supply disruption. Citi, however, does not believe supply disruption would have…

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