Brent Crude Nears $100 as Iran‑US Tensions Heighten Gulf Supply Risks
Brent crude climbed to $97.34, its highest level since July, as escalating Iran‑US friction raises concerns over Gulf oil supplies, pushing analysts to lift long‑term price forecasts.
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Desk Analysis
How This Affects the Exchange
Sector Effect
Positive · Buy bias
Oil & Gas sector likely to see higher earnings from rising crude prices – Buy bias on related tickers.
Sectors & Direction
Desk read
Desk call: Buy bias · Positively affected
- Oil & GasPositively affected
Companies
Mentions in This Briefing
Sectors: Oil & Gas — Positive · Buy bias. PSX tickers: OGDC, HUBC, PPL. Oil & Gas sector likely to see higher earnings from rising crude prices – Buy bias on related tickers.
Full Story
Open on Geo News## Price Surge
On Monday, Brent crude rose to $97.34 per barrel, the highest level recorded since July 24. The rally was driven by heightened geopolitical tension between Iran and the United States, which has revived fears of a supply crunch in the Gulf region.
## Analyst Outlook
Goldman Sachs upgraded its December 2026 Brent price target to $85 per barrel and its WTI target to $80, reflecting expectations of sustained higher prices. Marex, a global commodities broker, also warned that crude prices are likely to stay elevated for the foreseeable future as the geopolitical risk premium remains in play.
## Market Implications
The upward pressure on oil prices is expected to benefit Pakistan’s oil‑and‑gas companies, which stand to earn higher revenues from increased export and domestic pricing. At the same time, higher crude costs could pressure the broader economy through elevated fuel and electricity tariffs, potentially affecting consumer‑sensitive sectors.
## Outlook for Investors
Investors should monitor developments in the Iran‑US relationship, as any de‑escalation could temper price gains, while further escalation may push oil prices toward the $100 mark, reinforcing the bullish case for oil‑related equities on the Pakistan Stock Exchange.