"Escalating Hamas-Israel Conflict Threatens Oil Prices, Potential $115 Test"

Analysts predict that weakening global economic growth will likely keep oil prices below $90 per barrel this year and next, unless the Hamas-Israel conflict escalates into a regional war, which could threaten oil supply and push prices above $100, potentially testing $115 per barrel. The average forecast for Brent Crude prices this year is $84.80 per barrel, with a slight increase to $86.62 per barrel next year. While slowing economic growth is seen as the main bearish factor for oil, the situation in the Middle East could be a significant driver of price surges if a supply disruption occurs. However, most experts do not expect prices to remain in the triple digits for long due to downward pressure from economic slowdown.