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CommoditiesHigh Impact•23 February 2026•

1 min read

Oil Prices Eye $100 Mark as U.S.-Iran Geopolitical Tensions Escalate

Map of the Middle East with fighter jets, missiles, oil barrels, gold bars, oil rigs, and stock charts under a fiery sky.

Key Facts

1Fereidun Fesharaki, Chairman Emeritus at FGE, predicts oil prices could reach $90-$100 per barrel.

2Indirect talks between the U.S. and Iran are scheduled for Thursday in Geneva, mediated by Oman.

Fereidun Fesharaki, Chairman Emeritus at FGE, predicts that oil prices could surge to between $90 and $100 per barrel amid rising geopolitical friction. Speaking to Bloomberg, Fesharaki warned of a potential military escalation that could materialize as early as this coming weekend if diplomatic channels fail. The forecast comes as the United States and Iran prepare for indirect talks in Geneva this Thursday, mediated by Oman. Market analysts suggest that the lack of a diplomatic breakthrough is heightening the perceived inevitability of a U.S. military response. Such a conflict involving a major producer like Iran would likely trigger a significant risk premium and disrupt global energy supply chains. Consequently, instruments such as Brent Crude and WTI are facing increased volatility as traders weigh the possibility of imminent military action.