Oil Jumps 10% on Iran Conflict and Could Spike to $100 a Barrel, Analysts Say
Share
Category: WARS & RUMORS OF WARS
Summary:
Brent crude oil prices surged 10 percent to about $80 a barrel following US and Israeli strikes on Iran, with analysts predicting prices could reach or exceed $100 if the Strait of Hormuz remains closed. The Strait, through which over 20 percent of global oil passes, has seen suspensions of shipments by tanker owners and oil traders after Tehran warned against navigation there. OPEC+ announced a modest output increase of 206,000 barrels per day starting in April, which is less than 0.2% of global demand. Some supply rerouting through pipelines in Saudi Arabia and Abu Dhabi is possible, but experts estimate a net loss of 8 to 10 million barrels per day in crude supply if the Strait remains closed, prompting Asian countries to consider alternative sources such as Russian oil.
Mysterion Insights
Scripture: Ezekiel 38:12-13 (NASB 1977)
"to capture spoil and to seize plunder, to turn your hand against the waste places which are now inhabited, and against the people who are gathered from the nations, who have acquired cattle and goods, who live at the center of the world. Sheba and Dedan and the merchants of Tarshish with all its villages will say to you, 'Have you come to capture spoil? Have you assembled your company to seize plunder, to carry away silver and gold, to take away cattle and goods, to capture great spoil?'"
Commentary:
Energy chokepoints make modern pressure points obvious. One shipping lane can spike prices, and ordinary families feel it fast at the pump and in groceries. Ezekiel’s picture of “spoil” and “merchants” fits how trade and wealth become leverage when conflict spreads beyond missiles into commerce and navigation. This pattern of shifting alliances and economic coercion is one Scripture treats as a recurring end-times feature. Israel’s involvement carries unique prophetic weight, because this turmoil touches the covenant land God gave to Israel.
Prophetic Trend:
Regional strikes are widening into economic warfare as trade routes and energy supplies become strategic leverage, increasing global dependence on shifting alliances.
Mysterion Prophetic Impact Rating: B - Moderate What does this mean?
Mysterion Ministries exists to preach the Gospel, make disciples, equip the saints, and stand watchfully in these times. If this work strengthens your faith or understanding, you’re invited to learn more about supporting the ministry.
Source Excerpt:
FILE PHOTO: Oil tankers pass through the Strait of Hormuz, December 21, 2018. Photo: REUTERS/Hamad I Mohammed/File Photo Brent crude jumped 10 percent to about $80 a barrel over the counter on Sunday, oil traders said, while analysts predicted that prices could climb as high as $100 after US and Israeli strikes on Iran plunged the Middle East into a new war. The global oil benchmark has rallied this year and reached $73 a barrel on Friday for its highest since July, buoyed by growing concern over the potential attacks that arrived a day later. Futures trading is closed over the weekend. “While the military attacks are themselves supportive for oil prices, the key factor here is the closing of the Strait of Hormuz,” said Ajay Parmar, director of energy and refining at ICIS. Most tanker owners, oil majors and trading houses have suspended crude oil, fuel and liquefied natural gas shipments via the Strait of Hormuz, trade sources said, after Tehran warned ships against moving through the waterway. More than 20 percent of global oil is moved through the Strait of Hormuz. “We expect prices to open (after the weekend) much closer to $100 a barrel and perhaps exceed that level if we see a...
Original Article: Read the full story →
Source: Algemeiner
Posted on 03-01-2026 13:39