(Photo by ATTA KENARE / AFP)US and Israeli strikes against Iran and the repercussions in the Middle East are expected to send oil prices soaring when markets open, and a prolonged conflict could hit the global economy. “I expect oil prices to be between $85 and $90,” said Amena Bakr, head of Middle East and OPEC+ research at analysts Kpler. Another analyst at Kpler, Michelle Brouhard, described high oil prices as “the Achilles heel of Trump”. The last time crude prices climbed above $100 was at the start of the war in Ukraine. Gas prices also soared, which played a major role in a prolonged period of rising prices.

Source: Punch March 01, 2026 20:41 UTC