Oil Prices Projected to Surge if Strait of Hormuz Closure Persists

Fereidun Fesharaki, Chairman Emeritus of FGE NexantECA, has predicted a significant rise in global oil prices. He stated that crude oil could reach $150 per barrel if the Strait of Hormuz remains effectively closed by August. Fesharaki also suggested that prices might climb closer to $200 per barrel by the end of the year.

By Fainaron·Jun 12, 2026 (7 days ago)·1 views

Oil Prices Projected to Surge if Strait of Hormuz Closure Persists

Fereidun Fesharaki, Chairman Emeritus of FGE NexantECA, has projected a notable increase in global oil prices. According to his analysis, crude oil could reach $150 per barrel if the Strait of Hormuz remains closed to shipping by August.

Fesharaki also indicated that oil prices might climb closer to $200 per barrel by the end of the current year. These statements were made during an appearance on Bloomberg's program "Insight with Haslinda Amin."

According to Bloomberg Markets, these projections highlight potential market volatility under specific geopolitical conditions.

#oil prices #strait of hormuz #energy markets #fereidun fesharaki #fge nexanteca #commodities

Source attribution: This article was AI-curated and rewritten by Fainaron from a piece originally published by Bloomberg Markets. Read the original at Bloomberg Markets →

More like this

Two Men Arrested in Delaware for Waste Product Theft at Beachside Restaurants

Business

2 days ago

Two Men Arrested in Delaware for Waste Product Theft at Beachside Restaurants

Two individuals have been arrested in Delaware on charges related to the theft of a common waste product. The reported incidents occurred at beachside restaurants. Authorities believe this is not an isolated occurrence, suggesting a potential pattern of similar thefts.

Inc.com Magazine

Enterprises Face AI Credibility Gap Despite Widespread Claims

Business

2 days ago

Enterprises Face AI Credibility Gap Despite Widespread Claims

Organizations are increasingly making ambitious claims about their adoption of Artificial Intelligence (AI), yet measurable results often fall short, indicating a significant credibility gap. Studies show that billions in enterprise GenAI pilots have yielded nothing measurable, with over 40% of agentic AI projects predicted to be canceled by late 2027. Employee adoption also remains low, suggesting that while leaders tout AI as a transformative shift, practical, context-aware applications are crucial for gaining trust and demonstrating real value.

Fast Company

US Homeowners Adapt to Housing Market, Willing to Accept Higher Mortgage Rates

Business

2 days ago

US Homeowners Adapt to Housing Market, Willing to Accept Higher Mortgage Rates

A recent survey indicates a growing segment of U.S. homeowners are adapting to higher borrowing costs, with 47% stating they would accept a mortgage rate of up to 6% for their next home purchase. This sentiment marks a shift from earlier periods, suggesting a slow adjustment to elevated rates. Concurrently, homeowners anticipate a softer housing market with cautious expectations for home price changes over the next year.

Fast Company

Lululemon Faces Backlash in China Over Cultural Misstep at Great Wall Event

Business

2 days ago

Lululemon Faces Backlash in China Over Cultural Misstep at Great Wall Event

Activewear brand Lululemon encountered significant social media backlash in China after mistakenly using a Japanese taiko drum instead of a Chinese drum during a yoga festival on the Great Wall on Friday, May 30. The event, intended to celebrate Chinese culture and wellness with 2,000 guests, drew criticism when an image posted by Chinese actor Zhu Yilong highlighted the cultural error. Lululemon issued an apology on Tuesday via its Weibo account, removing related promotional materials, as discussions surrounding the incident reportedly reached 50 million viewers. The event marks another instance of a Western brand facing challenges with cultural sensitivity in the Chinese market.

Fast Company

Back to Homepage

Oil Prices Projected to Surge if Strait of Hormuz Closure Persists

More like this

Two Men Arrested in Delaware for Waste Product Theft at Beachside Restaurants

Enterprises Face AI Credibility Gap Despite Widespread Claims

US Homeowners Adapt to Housing Market, Willing to Accept Higher Mortgage Rates

Lululemon Faces Backlash in China Over Cultural Misstep at Great Wall Event

Fainaron — live counters