Crude Oil Prices Soar 60% in a Month Amid West Asia Tensions: $130 Target?

• Brent crude prices surged over 60% to $112/barrel due to US-Iran-Israel conflict and supply disruptions.
• Escalating West Asia tensions, particularly impacting the Strait of Hormuz, are driving the rally.
• Attacks on Qatar's energy infrastructure have damaged LNG export capacity; Iraq declares force majeure, slashing oil production.
• Goldman Sachs raised Brent crude forecast to $110 for March/April, with a risk scenario of $135/bbl if supply losses persist.
• Analysts warn that continued tensions and threats to key chokepoints like Bab el-Mandeb could push Brent towards $130-135.