Brent Crude Breaks Seventy Dollars as Persian Gulf Risks Escalate

Supply Surplus vs War Premium

Analysts warn that while the war premium is supporting prices now, the underlying fundamental remains bearish. Without a physical supply shut-in, the 1.4 million bpd surplus expected in 2026 will eventually cap the rally.

OPEC Resistance

OPEC+ members have signaled that they are comfortable with prices in the $70 range and are unlikely to increase production even if tensions escalate, prioritizing price stability.