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[Bank of America: If the war in Iran prolongs, oil prices may climb above $150 per barrel] September 23rd, Bank of America significantly raised its oil price target on Tuesday and warned that if supply tightens further, oil prices may exceed $150. Bank of America strategists also said they expect Brent crude prices to average around $80 a barrel in 2027, but pointed to challenges posed by declining strategic reserves and markets pointing to near-term severe shortages. The bank also said that if the war in Iran continues to deplete inventories as the war drags on, oil prices may climb to more than $150 per barrel in the future.
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