WSJ: Oil prices could reach $180 by the end of April if the war with Iran continues
Oil prices could exceed $180 a barrel by the end of April if the war with Iran continues, according to a baseline forecast from Saudi oil officials, according to The Wall Street Journal.
Prices at this level could trigger a recession or changes in consumer behavior that reduce demand.
“$200 a barrel in 2026 is not beyond the realm of possibility,” said analysts at energy consulting firm Wood Mackenzie.
Saudi Arabian light crude is already being sold to Asian buyers through the Red Sea port for approximately $125 per barrel. As additional storage stocks—some of which were removed from the Persian Gulf before the war—are depleted, the physical shortage will worsen next week, bringing prices closer to $138–140, officials noted.
By the second week of April, barring any easing of supply disruptions and the continued closure of the Strait of Hormuz, Saudi officials expect prices could reach $150, then rise to $165 and $180 in the following weeks.
Traders are also betting on much higher prices. Bets that Brent futures will reach $130, $140, or $150 per barrel next month were among the most popular positions on the options market on Wednesday, according to Intercontinental Exchange data. A small but growing number of traders are betting on even higher gains.
