Oil rises as risks of prolonged Mideast conflict heighten supply worries

Oil prices surged on Tuesday as tensions in the Middle East escalated. Iran's warnings of potential retaliation fueled concerns over supply disruptions, impacting global oil shipments. Experts anticipate limited supply from the Persian Gulf continuing through late 2026. In light of these ongoing interruptions, Goldman Sachs has revised its oil price forecasts upward, suggesting that crude prices will remain high through the end of the year.