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Energy Mkt Consultancy FGE: Oil Prices May Rise to US$200/ Barrel if Strait of Hormuz Remains Closed for 6-8 Wks
2026-03-31 17:15:25 Fereidun Fesharaki, honorary chairman of FGE NexantECA, an energy market consulting firm, said in an interview with Bloomberg Television that, if the Strait of Hormuz remains nearly blocked for the next 6-8 weeks due to the Iran war, oil prices could surge to US$150 or US$200 per barrel. The blockade of the strait prevents 100 million barrels of oil from passing through each week, amounting to 400 million barrels each month, resulting in astronomical losses for the market, he noted. He also dismissed the effectiveness of verbal interventions, including comments by US President Donald Trump about potentially ending the conflict with Iran, asserting that the reality of supply disruptions will ultimately drive oil prices higher. He bluntly stated that the market will be suffocated, and that what Trump says on a political front does not matter. ~ AASTOCKS Financial News Website: www.aastocks.com | |