Oil prices could soar to $180 per barrel

The price of Brent crude oil benchmark during exchange trading could reach the $180 per barrel mark as early as the end of April this year.

As reported by BAKU.WS, this is according to The Wall Street Journal (WSJ), citing a forecast by Saudi Aramco analysts.

According to the published data, if Iran does not reopen the Strait of Hormuz in the near future, the oil deficit on the global market will continue to deepen rapidly. Under such a scenario, the price of crude oil could jump to the range of $138–140 per barrel by the end of March.

According to expert estimates, the rise in global oil prices will not stop there — by mid-April, the price per barrel could reach $150. If the situation remains unchanged, an additional jump of at least another $30 is expected by the end of the month.

It should be recalled that Iran, amid strikes from the United States and Israel, announced the de facto closure of the Strait of Hormuz — one of the world's key oil transit routes. The ban applies to all vessels, including oil tankers and commercial ships.