Oil Prices May Hit $180 - $200 After April: Saudi Arabia
Iran has closed the Strait of Hormuz since the US and Israeli attacks, leaving hundreds of oil ships stranded in the strait. As a result, the price of Brent crude has skyrocketed to $119. Saudi Arabia has estimated that if shipping traffic in the strait continues to remain at this level, oil prices could rise to $150 by April and then to $180 - $200.