Justice & Paix

Oil prices could jump to $200 per barrel and even higher if the Strait of Hormuz remains near-closed as it is at the moment, Fereidun Fesharaki, Chairman Emeritus of energy consultancy FGE NexantECA, told Bloomberg on Tuesday. Although the oil market is moving on sentiment and U.S. President Donald Trump’s social media posts about the war, the fact is that “every week, 100 million barrels of oil is not going through, and every month, 400 million barrels are not going through,” Fesharaki told Bloomberg Television.