economy
March 31, 2026
JP Morgan sees oil price growing to $150, if Hormuz closed for another month
According to the chief economist Bruce Kasman, a scenario in which the strait remains closed for an additional month would be consistent with constraints on industrial consumers of energy supply
TL;DR
- Brent crude oil price could rise to $150 per barrel if the Strait of Hormuz remains closed for another month.
- This closure would also lead to constraints on industrial consumers of energy supply.
- The Strait of Hormuz was closed by Iran after the US and Israel launched a war against the country, leading to retaliatory attacks.
- Several tankers were attacked for passing through the strait without permission during the conflict.
- Iran has since allowed passage through the Strait of Hormuz to friendly countries, including Russia, India, Iraq, China, and Pakistan.
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