Oil set to spike toward $150 as Hormuz disruption looms
TL;DR
Oil prices could surge toward $150 a barrel if the Strait of Hormuz remains blocked after Iran signaled a closure amid tensions, while US forces say shipping continues; JPMorgan and Goldman Sachs warn that a sustained disruption could push Brent into the triple digits or higher, with higher gasoline costs and inflation likely in the weeks ahead.
- Oil prices face sudden $150 spike after vital route shuts Yahoo Finance Singapore
- See the Global Chokepoints That Carry Much of the World’s Trade WSJ
- Uncertainty Remains Over the Strait of Hormuz The New York Times
- The U.S. says it's open. Iran says it's closed. The Strait of Hormuz remains precarious CBC
- The Strait of Hormuz's future is unsettled even as more ships venture through 10TV
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