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Barclays says Brent could test $120/bbl if Middle East tensions persist

ReutersMar 6, 2026 6:44 PM

- Barclays said on Friday that Brent crude could potentially test $120 a barrel if the Middle East conflict persists for another couple of weeks.

"These numbers might seem too high, especially given widespread pessimism about the oil market outlook heading into this year, but we reiterate that fundamentals are stronger and risks are bigger than the Russia​-​Ukraine conflict, when we saw these levels materialize," Barclays added.

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