A Full Strait of Hormuz Blockage and 20% Fall in Supply Could Push Oil over $100/bbl, Commerzbank says

Reuters

If the Strait of Hormuz were completely blocked, causing supply to fall by 20%, the oil price would likely rise to over $100 per barrel, Commerzbank said in a note on Tuesday.

The bank also added that a prolonged conflict could lead to supply difficulties and bottlenecks for aluminium, with a corresponding impact on prices.

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