US-Iran Tensions Could Push Brent Crude to $75, Warns Peter McGuire

• Geopolitics, not demand, is driving oil prices, with Brent crude above $70 per barrel due to US-Iran tensions.
• Trading.com CEO Peter McGuire predicts Brent could reach $75 if geopolitical frictions escalate.
• Disruption would inject a 'war premium' into prices, impacting China and Asia significantly.
• The Strait of Hormuz, carrying over 30% of global crude flows, poses the biggest risk to markets.
• McGuire anticipates volatility across the commodity complex, with gold, silver, and the US dollar strengthening.