Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), has declared that oil prices surpassing $100 per barrel are “imminent” due to escalating conflict in the Middle East. In a post on X, he noted that actual delivered oil in Asia already exceeds $90, with benchmarks like Murban crude reaching $96. Dmitriev added that even The Economist now acknowledges the $100 forecast.

His comments follow the recent large-scale US-Israel military operation against Iran, which resulted in the death of Iran’s Supreme Leader and triggered retaliatory strikes from the Islamic Revolutionary Guard Corps against Israel and US bases across several Gulf nations.

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