The Economic Times

Oil Price Today (September 8): Crude oil at $97 as simmering tensions raise supply worries. Experts weigh in

Oil prices soared on Tuesday due to escalating fears surrounding conflicts in the Middle East. Iran's threats of retaliation have raised alarms over potential disruptions in crude supplies. With projections indicating substantial price hikes if the Strait of Hormuz sees blockages, JPMorgan predicts increased Brent prices, while Goldman Sachs alerts to the possibility of Brent hitting $120 if shipping lanes are disrupted.