Bank of America warns oil could surge to $150 as supply tightens amid Middle East tensions
TL;DR
Bank of America lifted its Brent crude forecast to $95 a barrel for year-end and warned that oil could top $150 a barrel if inventories continue to deplete amid geopolitical tensions in the Middle East (Iran conflict, Hormuz disruptions). The report notes constrained Hormuz traffic and damaged infrastructure, with Saudi Aramco resuming the East-West pipeline potentially easing some bottlenecks, though rapid normalization remains unlikely.
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