Oil could spike to $200 if Hormuz ‘near-closure’ persists, Fesharaki says

AI Briefing

• – Oil prices could rise to $150-$200 if disruptions in the Strait of Hormuz persist.
• – A 'near-closure' of the crucial waterway amid escalating tensions in the region could have a significant impact on global oil supplies.
• – Iran's involvement in the conflict could further drive up prices if the situation escalates.