Energy research agency: If the Middle East conflict persists, oil prices could soar to $150

Odaily Odaily News: Claudio Galimberti, chief economist at Rystad Energy, an independent energy research and business intelligence company, stated that if the conflict in the Middle East continues, international oil prices could rise to $150 per barrel in the coming months.

He pointed out that current global crude oil inventories are already at low levels and warned that if the conflict is not resolved and supply does not increase, inventories will continue to decline and further push up prices. He said: "Under the current circumstances, unless we resolve (the Middle East conflict), unless we start to see an increase in supply flow, inventories will continue to decline, which means prices will continue to rise."

As of June 9, 2026, Brent crude oil is priced at approximately $92 per barrel, and WTI crude oil is around $90 per barrel. (Jin Shi)