Brent crude could exceed $120 amid Middle East escalation

Oil prices could reach $120 per barrel by the end of 2024 if Middle East tensions worsen.

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The fact

The threat to the Bab el-Mandeb strait, key for maritime traffic, fuels this forecast.

RBC Capital Markets analysts warn of global supply risks.

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Auto-synthesis from 1 media source · identified on September 11, 2026