WTI crude oil prices hit $120/barrel by Q3 2026

Trump’s Iran policy could escalate to a regional conflict, cutting off 2 million barrels/day of Iranian oil exports. Analysts project a supply deficit of 1.5-2 million barrels/day, pushing prices to $100-$120 by mid-2026 as OPEC+ fails to offset losses.

Implied probability (Yes)

78%