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CommoditiesMedium•6 March 2026•

1 min read

Barclays Projects Brent Crude to Hit $120 Amid Middle East Tensions

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

Key Facts

1Barclays expects Brent crude could test the $120 per barrel level if tensions persist.

2The primary condition for this price surge is the persistence of the Middle East conflict for another two weeks.

Barclays analysts have projected that Brent crude oil prices could surge to test the $120 per barrel level in the coming period. The bank noted that this price spike is contingent on the current geopolitical conflict in the Middle East persisting for at least two more weeks. These forecasts are primarily driven by the potential for significant supply disruptions and an escalating geopolitical risk premium in global markets. Investors are closely monitoring regional developments, as any further escalation could severely tighten global energy supplies. The $120 target represents a substantial upside, reflecting the deep uncertainty currently dominating the energy landscape. This bullish momentum is also expected to influence other instruments, including WTI Crude and energy-related ETFs.