Oil prices could rise to $150 a barrel if war on Iran resumes

Hojjatoleslam Mousa Ahmadi warned in an interview with local Iranian media on Sunday that a resumption of war and further disruptions to global oil supplies could push crude prices above $150 per barrel. Citing oil prices exceeding $117 per barrel and declining U.S. strategic petroleum reserves, he said a prolonged energy crisis could increase economic pressure on the United States and oil-importing countries.

He noted that higher oil prices would have consequences beyond energy markets, raising transportation, production, and energy costs while intensifying inflationary pressures in oil-consuming countries.

He said the U.S. government would face greater pressure to contain energy prices and protect domestic consumers. The longer the crisis continues, he added, the more difficult it would become to manage its economic and political consequences.

Ahmadi also said Iran intends to maintain long-term pressure on oil markets, drawing on its strategic position in the energy sector and the defensive capabilities of its armed forces. He argued that preventing prices from falling could prolong the energy crisis and increase the economic and political costs for Washington.

Concluding his remarks, Ahmadi pointed to energy-related challenges facing several European countries, including France, Portugal, Albania, and Italy. He warned that continued disruptions to oil supplies could pose further challenges to economic stability in both the United States and Europe.

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