Saudi Arabia Warns Oil Prices May Rise to $180 per Barrel in April

Saudi Arabia has warned that global oil prices could surge to as high as $180 per barrel if the ongoing war in the Middle East continues to disrupt supply chains, reported the Wall Street Journal.

According to emerging assessments, the worst-case scenario envisions oil prices climbing steadily in the coming weeks. However, they could cross $150 in early April before spiking near $180 per barrel if disruptions persist.

The warning comes amid rising tensions linked to the Iran war, which has already led to attacks on key energy infrastructure and shipping routes. These disruptions have removed huge volumes of oil from global markets and pushed prices higher.

Oil prices have already surged roughly 50 percent since late February 2026 due to rising uncertainty in global energy markets. Benchmarks such as Brent crude have recently climbed above $119 per barrel as supply concerns intensified.

Saudi officials warned that while higher prices may boost revenues for oil-exporting countries, excessively high levels could backfire by weakening demand.

Market sentiment is also shifting, with traders increasingly pricing in the possibility of further spikes, as prolonged instability ails the Gulf region.

Commentators on X opine that more uncertainty could push oil far above recession levels. They’re unsure about when the Gulf war will end since all parties remain focused on attacking each other’s important assets in the region.