<div id="readability-page-1"><div><figure></figure>Brent crude oil price was trading at $106 today, May 13, as investors waited for more details on the US-Iran war after President Donald Trump rejected Iran’s response to the US proposal. It was trading at $106.63, up from last week’s low of $96.What if the Iran-US war restarts?Brent crude oil price has risen gradually this week as investors reacted to Trump's response to the delayed response from Iran. In a statement, he said that the response was “totally unacceptable.”Media reports suggest that Iran made a maximalist response, including the ending of sanctions in exchange for the reopening of the Strait of Hormuz.Therefore, market participants are unsure what will happen next, with most of them predicting that the US will resume fighting. In a statement to 60 Minutes, Israel’s Benjamin Netanyahu warned that the war was not over yet.Some Trump advisors, including Senator Lindsey Graham and Mark Levin, have advised him to launch a kinetic strike against Iran 50 force the country into a deal. Trump also hopes to push China’s Xi Jinping to force Iran into an agreement.A restart of the war would lead to higher crude oil prices as Iran would use it to target crucial energy installations in the Middle East. For example, it would possibly target Saudi Arabia’s pipeline that is moving millions of oil barrels per day.Iran also has a long relationship with Yemen’s Ansah Allah, commonly known as Houthis. It may decide to fund it to attack ships in the Red Sea, a move that would shut down a route that accounts for about 12% of oil transport.The war’s restart would also come at a time when domestic oil inventories are plunging. According to the EIA, inventories have dropped from over 8 billion in April and may move below 7 billion in the next few months.At the same time, the inventory drawdown will happen at a time when the US driving season is starting. The season normally starts on the final Monday of May, which is after the Memorial Day weekend, and lasts through September.Analysts believe that a war restart may push crude oil prices to as high as $200. This explains why Trump is reluctant to do it. Besides, data released on Tuesday showed that US inflation is soaring.The headline Consumer Price Index rose to 3.8% in April this year, higher than the median estimate of 3.6%. Analysts now expect that the headline inflation may blast past 5%, a move that will accelerate if the war restarts.Brent crude oil price technical analysis <figure></figure>Crude oil price chart | Source: TradingViewThe daily chart shows that the Brent crude oil price has bounced back in the past few days, moving from a low of $96 to the current $10 6.5. It has remained above the 50-day and 25-day Exponential Moving Averages (EMA).Brent has formed two different patterns. For example, there are signs that it has formed an inverted head-and-shoulders pattern, which is a common bullish reversal sign in technical analysis.There are also signs that it has formed a double-top pattern whose neckline is at $86.25. A double-top normally leads to more downside.Therefore, the most likely scenario is where the inverted H&amp;S pattern activates if the war restarts. Such a move would push it to over $150 within a few days. If Trump pursues a deal, oil prices will continue falling below $85.</div></div>

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Brent crude oil prices rose to $106.63 as investors reacted to President Trump's rejection of Iran's response to US proposals, raising concerns about a potential restart of the US-Iran war. Analysts predict that renewed conflict could push prices to $200, especially with declining US oil inventories and the upcoming driving season. Technical analysis shows a bullish inverted head-and-shoulders pattern, suggesting prices could exceed $150 if war resumes. Conversely, if Trump seeks a deal, prices may fall below $85.

Brent crude oil price forecast if Trump restarts the US-Iran war soon