CRITICALECONOMIC·14:00 UTCVERIFIED
Brent crude hits 19-month high; Bernstein warns prices could reach $120–$150 in prolonged conflict
Oil prices continued to climb on Day 4. Brent settled at $77.74 (+6.68%) on Monday and kept rising Tuesday, hitting a 19-month high approaching $80/bbl. WTI settled at $71.23 (+6.28%). Bernstein raised its 2026 Brent forecast to $80 (from $65) and warned prices could reach $120–$150 in an extreme prolonged scenario. European gas prices surged 18% after QatarEnergy's LNG shutdown. Stock markets fell across Europe (FTSE -1.2%). Gold firmed, USD strengthened. Airlines sank. The global energy supply chain is now facing the most severe disruption since the 1973 oil crisis — Hormuz closed, Ras Tanura shut, Qatar LNG halted, Israeli/Kurdish fields offline.
Global markets