Analyst: Hormuz supply shock could push crude to $150-$200; Trump remarks seen as marginal

March 31 (UTC+8) — Energy consultancy FGE NexantECA warned that oil prices could jump to $150, or even $200, per barrel if the Strait of Hormuz remains almost fully shut for another six to eight weeks due to a war in Iran, ME News reported. Fereidun Fesharaki, the firm's Chairman Emeritus, said Tuesday that the disruption would keep roughly 100 million barrels a week from reaching markets — about 400 million barrels a month — calling the cumulative loss "astronomical" if it drags on. Fesharaki downplayed the market impact of President Donald Trump's verbal interventions, including comments about possibly ending the conflict, arguing that prices are being set by the "physical reality" of supply disruptions. "As long as the Strait of Hormuz is physically closed, prices will rise," he said, adding that political statements would not change that outcome. (Jin10) (Source: ODAILY)