Global oil prices could surge sharply and surpass the $180-per-barrel mark if supply disruptions in the Middle East persist beyond April. This scenario is being considered against the backdrop of escalating conflict and threats to infrastructure.

Brent crude prices have already reached $119 per barrel—a multi-year high. The primary driver behind this surge has been the restriction of supplies flowing through the Strait of Hormuz, a vital conduit for a significant portion of the world's oil.

Attacks on energy facilities in the region have heightened fears of a prolonged supply deficit. The market is currently pricing in the risks of reduced supply amidst geopolitical instability.

However, rising prices have a dual effect: on one hand, they boost revenues for exporters; on the other, they dampen demand as fuel costs rise. This creates a risk of a slowdown in the global economy.

Future market trends will depend on the timeline for the restoration of supplies. Should the crisis become prolonged, the oil market could enter a phase of structural deficit characterized by sustained high prices over the long term.