19.03.2026 10:30
As conflicts in the Middle East escalate, oil prices have risen above 112 dollars, with warnings that prices could reach up to 200 dollars if the crisis worsens.
In the Middle East, the escalating conflicts and attacks on energy facilities in the last 24 hours have driven oil prices up in global markets. While the price of Brent crude oil rose to $112.80 per barrel, experts warn that if the crisis deepens, prices could reach $200.
ENERGY FACILITIES IN THE CROSSHAIRS, PRICES RISING RAPIDLY
The increasing tensions in the region, particularly targeting energy infrastructure, have caused a sharp rise in oil markets. Brent crude closed at $109.65 with a 5.9% increase in yesterday's trading, while today it surpassed the $110 level, testing $112.80 in early trades.
RETALIATORY ATTACKS ACROSS THE REGION
After Israel targeted the South Pars gas field in Iran, tensions in the region escalated further. Reports indicate that explosions and drone attacks occurred in Dubai, Qatar, Kuwait, Iraq, Bahrain, and Saudi Arabia as part of retaliatory strikes by Iran and allied groups.
WARNING FROM THE U.S. TO IRAN
It was reported that significant damage occurred in Iran's attack on the liquefied natural gas facility in Qatar's Ras Laffan region, while U.S. President Donald Trump warned the Tehran administration against "further retaliation." The developments have also led to an increase in natural gas prices.
WARNING THAT PRICES COULD RISE TO $200
U.S. investment bank Citi emphasized in its analysis that if the conflicts deepen supply shocks, oil prices could initially remain in the $110-120 range, but if risks grow, prices could rise to the $150-200 range. It was noted that especially the scenario of Iran expanding its attacks on energy infrastructure and the closure of the Strait of Hormuz until June is critical.