Israel, Iran war: Analysts hike oil price outlooks as Iran conflict drags on

Middle East war: Oil prices are surging as the U.S. and Israel engage with Iran. Major financial firms have increased their 2026 oil price predictions. This reflects a lasting repricing of geopolitical risk. The market is now seen as structurally tighter. Brent crude futures traded over $100 a barrel. West Texas Intermediate crude was near $89.