Oil pushing to $120 on Iran US tensions is definitely possible, but it likely depends on escalation rather than just ongoing noise. The market has already priced in a risk premium, so further upside needs a real supply shock like disruptions through the Strait of Hormuz or a significant hit to Iranian exports. Without that, prices can spike on headlines but usually pull back quickly. So $120 is realistic as a short-term move if things worsen, but hard to sustain unless the conflict materially impacts global supply for an extended period.

Oil pushing to $120 on Iran US tensions is definitely possible, but it likely depends on escalation rather than just ongoing noise. The market has already priced in a risk premium, so further upside needs a real supply shock like disruptions through the Strait of Hormuz or a significant hit to Iranian exports. Without that, prices can spike on headlines but usually pull back quickly. So $120 is realistic as a short-term move if things worsen, but hard to sustain unless the conflict materially impacts global supply for an extended period.