Oil prices may reach $150 amid Hormuz crisis escalation
pre-market1 source ↓written by the desknot a recommendation
- in Brent crude
- 13% surge
- now exceeding
- $82 per barrel
- could soar
- $120 or even $150
- of the world's
- 20% to 30%
The ongoing crisis in the Strait of Hormuz has led to a 13% surge in Brent crude oil prices, now exceeding $82 per barrel. Analysts warn that if tensions escalate, prices could soar to $120 or even $150. This waterway is crucial, transporting 20% to 30% of the world's seaborne crude oil, significantly impacting global energy markets.
Not investment advice. For informational purposes only.