«سيتي جروب»: النفط سيرتفع إلى 90 دولاراً إذا أغلق «هرمز»

Citigroup has predicted that the price of Brent crude could rise to around $90 per barrel if the Strait of Hormuz is closed amid escalating conflict between Israel and Iran.

Bank analysts added in a note that any closure of the strait could lead to a sharp increase in oil prices, but they expect the duration of the closure to be short and not last for several months; as all efforts will focus on reopening it.

This is due to the importance of the Strait of Hormuz, which accounted for more than a quarter of total seaborne oil trade worldwide last year and in the first quarter of this year.

The bank added, as reported by Bloomberg, that any disruption to Iranian oil exports may have a smaller-than-expected impact on prices, as the country's shipments decline and Chinese refinery purchases decrease.