Another month of blocking the Strait of Hormuz and oil will "jump" to $ 150 — The Times

Another month of blocking the Strait of Hormuz and oil will "jump" to $ 150 per barrel. Bruce Kasman, chief economist at JPMorgan Chase, said this in an interview with The Times.

"The actual blocking of the Strait of Hormuz for another month may provoke a sharp rise in world oil prices," the expert said.

According to him, in such a situation, the cost of Brent crude oil will reach $ 150 per barrel. This, in turn, will lead to power outages. Industrial consumers who depend on stable fuel supplies will be particularly affected.

Since the beginning of the US and Israeli military operations against Iran, the daily movement of ships through the Strait of Hormuz has decreased by more than 95%.

According to the report of the UN Conference on Trade and Development, in early March, ship traffic through the strait did not exceed ten units per day.