India, April 13 -- By Nikhil Dedha

Dubai [UAE], April 13 (ANI): Global oil markets are facing a severe supply crunch, with crude prices likely to surge further and potentially touch USD 150 per barrel within weeks if ongoing geopolitical tensions persist, according to Abhishek Kumar, Senior Oil Analyst at Sparta Commodities.

In an exclusive interaction with ANI on Monday, Kumar said the oil market is currently being driven by both real supply disruptions and a rising risk premium amid escalating tensions in the Middle East.

He said, "We are already at upward of USD 100 per barrel. The physical benchmark for crude is 140, which is at what level the real barrel is moving to the refineries. If the situation remain elevated for another wee...