BMI: Oil may reach $110 if Middle East tensions rise
The article discusses the forecast that oil prices could rise to $110 per barrel due to escalating geopolitical tensions in the Middle East. Ongoing attacks on tankers and military industries, along with the risk of reopening the Strait of Hormuz, contribute to this outlook. Experts at BMI - Fitch Solutions expect Brent crude prices to remain between $85 and $90 until the end of the third quarter, with a possibility of military escalation that could drive prices above $100 and perhaps reach $110 before the year's end, amid ongoing tensions and risks that increase market risk premiums.
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