Hormuz Blockade Could Push Oil to $200, Warns Analysts
Oil prices could surge to $200 per barrel if the Strait of Hormuz remains near-closed for another 6-8 weeks, according to FGE NexantECA’s Fereidun Fesharaki, who says losses in flows could be astronomical. Macquarie has warned of a $200 oil scenario as the Middle East conflict persists, while IEA stock releases could provide some relief. A prolonged Hormuz disruption could trigger a global recession and force lasting energy-market adjustments.