The price of Brent crude oil will reach or exceed $130 per barrel on the Intercontinental Exchange (ICE) before December 31, 2026.

Recent developments indicate a shift towards de-escalation, with US-Iran talks and President Trump considering winding down the conflict. This has led to an 11% plunge in oil prices, with Brent crude stabilizing around $112 per barrel after a recent high. The US is also exploring measures like easing Russia sanctions and releasing emergency stockpiles to cool oil prices.