US-Iran conflict sparks oil price surge fears, experts warn of supply disruptions
Oil prices are expected to spike when markets open Monday after US and Israeli strikes on Iran, but the long-term impact depends on conflict duration. Analysts warn a prolonged war could disrupt 20% of global supply, potentially pushing prices toward $100/barrel if Iran retaliates and blocks the Strait of Hormuz, a vital chokepoint for 20 million barrels daily. While Gulf producers like Saudi Arabia and UAE can offset Iranian exports, sustained geopolitical risk may keep prices elevated until stability returns. OPEC+ is meeting to reassess production plans amid the crisis.
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