Bank of America warns Iran conflict may push Brent crude above $150

Bank of America has issued a warning that prolonged supply disruptions due to ongoing conflict in Iran could propel Brent crude oil prices above $150 per barrel. This development comes as Brent crude was at approximately $98.73 per barrel on September 22, 2026, following a recent rally. The bank’s analysis suggests that sustained disruptions may lead to tighter market conditions, potentially driving prices to new heights. The warning aligns with broader concerns about geopolitical tensions in the Middle East and their impact on global oil supply. Key Takeaways Bank of America’s warning appears to indicate significant risk to oil supply, potentially pushing Brent crude prices above $150. Markets have adjusted expectations for crude oil’s all-time high, with current pricing for December 31 suggesting a 10.5% likelihood. The warning may reflect broader market concerns about geopolitical tensions and their impact on oil prices. What to Watch Observers will be closely monitoring developments in the Iran conflict and any potential resolutions that could stabilize supply. Key actors such as OPEC and major energy agencies are likely to influence market dynamics through policy changes or pr...