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Onyx: Oil Prices May Soar to USD150 If US Blocks Hormuz
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If the US proceeds with a planned maritime blockade of the Strait of Hormuz, oil prices should be way higher than current levels, Bloomberg reported, citing a senior oil market executive. Jorge Montepeque, Managing Director of Onyx Capital Group, said that international oil prices at USD103 per barrel, up 8%, utterly fail to reflect what would happen if the US really decides to implement the blockade. He opined oil prices should reach USD140 or even USD150 per barrel. Auto-translated by AI AASTOCKS Financial News |
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