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Exclusive: US-Iran Escalation Could Push Brent Crude To $105 By Month-End, Says Global Oil Expert

Sanjeev Kumar | July 24, 2026 11:22 PM CST

The consistent surge in oil prices on back of the escalating US-Iran conflict has raised concerns about just how long this geopolitical uncertainty will persist. Brent Crude prices surpassed the $100 per barrel level while WTI Crude prices crossed $91 per barrel.

In fact oil prices are also set for a significant weekly uptick after Houthi attacks on tankers in the Red Sea sparked worries about the closure of a second shipping chokepoint and Kazakhstan temporarily cut output after its main export route was compelled to shut.

Peter McGuire told Times Now Digital, "energy prices have exploded to the upside cracking $100 per barrel and fear has embraced the market. The price velocity this week has been phenomenal and oil rates are up 45% since the beginning of the month. Traders are now positioning themselves for $105 per barrel as the next target by the end of the month."

While US President Donald Trump earlier stated he is considering a "massive attack" on Iran because Tehran has not "received enough pain yet" and that he is near a decision to resume major military operations. Iran's Foreign Minister Abbas Araghchi said that "mindless aggression" will only see Trump pay a "heavier price" for a deal to end the war.

US military on Thursday night launched a 13th consecutive night of strikes against Iran, hours after US President Donald Trump said he was considering expanding military operations with attacks that would be larger than those carried out during Operation Epic Fury. In a post on X, US Central Command (CENTCOM) said the latest strikes began at 6:45pm ET. "US forces started another night of strikes against Iranian military targets at 6:45 pm ET today. This is the 13th consecutive night of strikes aimed to hold Iran accountable and diminish threats from the Islamic Revolutionary Guard Corps to commercial shipping,"