Iran Tensions Push Oil Price Prediction to $90 by June

Prediction markets now show a 100% probability that crude oil will reach $90 by the end of June, driven by escalating tensions with Iran. Since late February, U.S. gasoline prices have surged 40-42% to $4.24 per gallon nationally, hitting low-income households hardest.

Goldman Sachs warns retail sales could decline 1% in 2026, with consumption growth slowing to just 1.5%. The firm also flags that Brent crude could spike to $145 per barrel in May, potentially pushing U.S. gas above $5 per gallon-a level not seen since mid-2022.

Markets are closely watching OPEC+ production decisions, potential disruptions in the Strait of Hormuz, and further geopolitical developments involving Israel, the U.S., and Iran.