Analysts are rethinking their previous predictions that oil prices would only reach $100-$150 per barrel due to the ongoing conflict in Iran. The Strait of Hormuz remains closed, and market watchers expect prices to rise substantially if it stays shut down. Several analysts believe prices could surpass $200 per barrel, citing factors such as reduced shipping through the strait, increased oil reserves, and growing demand for alternative supplies. While some experts warn that oil at $200 a barrel would have significant economic impacts, others are more optimistic about the market’s ability to absorb the price hike.
Source: https://www.aljazeera.com/news/2026/3/19/could-oil-hit-200-a-barrel-analysts-no-longer-think-its-far-fetched