LONDON, February 28. /TASS/. The conflict in Iran could drive oil prices up to $80-100 per barrel, the Financial Times (FT) reported, citing analysts.

Limited strikes could well push oil prices toward $80 per barrel, William Jackson, chief emerging markets economist at Capital Economics, said. In his assessment, in the event of a prolonged conflict, prices could reach $100 per barrel.

On February 28, April and May futures for Brent crude on the Moscow Exchange rose by 4% and climbed above $75, according to trading data. There is no trading in Brent on the London-based ICE Futures exchange, which is considered the primary benchmark for Brent, today.

The US and Israel have launched a military operation against Iran. Major Iranian cities, including Tehran, have been hit. The White House justified the attack by citing alleged missile and nuclear threats from Iran. The Islamic Revolutionary Guard Corps (IRGC, the Iranian Armed Forces’ elite unit) announced a large-scale retaliatory operation. There were reports of missiles and drones being launched from Iran. According to media, US military bases in Bahrain, Jordan, Qatar, Kuwait, the UAE, and Saudi Arabia were also targeted.