Analyst: Brent crude could target $100 per barrel if tensions persist

According to a report by Phillip Nova analyst Priyanka Sachdeva, if tensions continue to escalate, Brent crude oil prices could target $100 per barrel. She noted that while the market is currently mainly facing logistical risks rather than actual oil losses, this distinction could quickly narrow if attacks persist.

Sachdeva pointed out that the biggest risk for the energy market would be simultaneous and prolonged traffic disruptions in the Bab el-Mandeb Strait and the Strait of Hormuz. She added that under such circumstances, the market's flexibility in rerouting cargo shipments would be very limited, and shipping disruptions could rapidly evolve into a broader inflation concern. (Jin Shi)