Crude Oil Feb 28 (CLG28.NYM)
| Pre. Settlement | N/A |
| Settlement Date | 2028-01-20 |
| Open | 54.00 |
| Bid | 50.00 |
| Last Price | 64.22 |
| Day's Range | 54.00 - 54.00 |
| Volume | |
| Ask | 0.00 |
- Yahoo Finance Video
Oil prices topping $80 is 'a distinct possibility': Economist
Oil markets (CL=F, BZ=F) are on edge as Middle East tensions escalate following Iran's airstrike on Israel Tuesday. Rystad Energy Chief Economist Claudio Galimberti joins Morning Brief to analyze the potential impact on oil prices. Galimberti says oil surpassing the $80 threshold is "a distinct possibility" amid rising regional tensions. He explains that oil prices are also influenced by the significant spare production capacity in the Middle East. Following an extended period of production cuts, the region now maintains substantial output levels. Any war-related disruption to this production could cause oil prices to surge dramatically. The likelihood of direct conflict between Iran and Israel is "quite likely," according to Galimberti, and markets are beginning to factor this risk into prices, anticipating "a big supply disruption" in oil markets. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
Yahoo FinanceOil gains 5% on supply disruption worries following Biden comments on Israel-Iran tensions
Oil spiked as much as 4% on concerns of a possible strike against Iran's oil production facilities.
Yahoo Finance UKOil stocks to watch as Biden signals backing for Israel’s retaliatory attack on Iran
Oil is on track for its strongest week in more than a year.
