[Analysis: Oil Prices Could Surge to $90-100 as US and Iran Face War] Energy market consultancy FGE NexantECA says oil prices could surge as war between the US and Iran appears imminent. “I think the US has no choice but to go to war,” said Ferreton Fesharaki, honorary chairman of FGE NexantECA. “I find it hard to imagine them avoiding this war and turning back,” Fesharaki said, who has been watching the market for decades. “If the Iranians accept the US narrative, then the Iranian regime loses its legitimacy; they have to say ‘no’,” Fesharaki said.
He added, “This time it will be different because the Iranians can do two things.”
He cited possible attacks on neighboring Saudi Arabia, the UAE, and Kuwait, as well as the possibility of blocking the Strait of Hormuz. Fesharaki outlined several scenarios that could disrupt crude oil shipments in the region, suggesting oil prices could rise to $90 to $100 per barrel, depending on the severity of the situation.
