Geopolitics
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EnglishOil Prices Could Soar to US$125 This Summer If Hormuz Stays Closed
Listen up, folks! Ninety One is warning us that if the Strait of Hormuz stays closed, oil prices could rocket to a jaw-dropping US$125 a barrel this summer! With a staggering 12 million barrels a day missing, we’re in for a wild ride of rising prices and a frantic search for fuel alternatives. Get ready for a summer of gas price gymnastics!
few days ago | Neha Joshi
Quick rundown
1.Oil prices could hit $125 if the Strait of Hormuz stays closed.
2.A 12 million barrel per day deficit is shaking the oil market.
3.Summer demand could make oil prices skyrocket.
4.The Strait of Hormuz is a vital oil transit chokepoint.
5.High oil prices could impact consumer spending and inflation.
