Oil Price Today (July 16): Crude oil at $86, rises for 4th day as US-Iran attacks continue. What are experts saying?

Crude oil prices rose for the fourth straight session on July 16, with Brent crude at $85.28 and WTI at $80.02 per barrel, as escalating US-Iran conflict disrupted supplies through the Strait of Hormuz, which handles about one-fifth of global oil trade. Goldman Sachs warned Brent could climb above $110 per barrel if Gulf export recovery is delayed, while Nuvama cautioned a prolonged Strait closure could disrupt 20 million barrels per day of flows, potentially pushing prices to $110-$150. Indian markets face risk as higher crude widens the current account deficit and inflates import bills.