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Brent crude could reach $131 per barrel amid Middle East escalation, says OIES
Trend News Agency · October 30, 2026 · Week 2026-44
Summary
The Oxford Institute for Energy Studies (OIES) forecasts that Brent crude prices could spike to $131 per barrel in the event of a significant escalation of conflict in the Middle East. This analysis highlights the market's sensitivity to geopolitical risk in the world's primary oil-producing region and the potential for a major price shock.
Strategic Implication
This price forecast underscores the high geopolitical risk premium embedded in oil markets, which would significantly boost revenues for MENA producers if realized but also increase global economic volatility.