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Home/Markets/Commodities/Oil Price Surge: $150 on Hormuz Blockade…

Oil Price Surge: $150 on Hormuz Blockade?

Commodities
By ThePip Desk•
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Donald Trump, in a suit, points at a map of the Middle East, specifically the Strait of Hormuz, during a briefing.

Donald Trump points to a map of the Strait of Hormuz during a briefing on oil prices.

Key Highlights

Oil prices may hit $150 if the U.S. blockades the Strait of Hormuz, disrupting 12M barrels daily. Brent crude already over $103 amid Iran tensions.

Oil prices are projected to potentially soar to $150 a barrel if the United States proceeds with a planned blockade of the Strait of Hormuz. Such a move could disrupt the transit of up to 12 million barrels of oil per day.

Brent crude prices have already risen past $103 following unsuccessful negotiations with Iran. Despite escalating tensions and naval deployments, traders consider a complete blockade an unlikely scenario.

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