Saudi officials have cautioned that global oil prices could climb to as high as $180 per barrel if ongoing tensions in the Middle East continue to disrupt supply.

The warning is tied to the risk of prolonged conflict involving Iran, which could affect critical oil production and shipping routes in the region. Any sustained disruption—particularly around the Strait of Hormuz—would significantly tighten global supply and drive prices sharply higher.

Current projections suggest oil could first rise to around $150 in the near term before escalating further if the situation deteriorates. Prices have already surged in recent weeks, reflecting growing concerns over supply security and market stability.

Saudi authorities also warned that excessively high oil prices may ultimately harm global demand. A sharp spike could increase inflationary pressures worldwide and raise the risk of an economic slowdown or recession.

The outlook for oil markets now largely depends on how the geopolitical situation evolves, with continued instability likely to fuel further volatility in the weeks ahead.