International energy consultant Mamdouh Salameh warned that the ongoing closure of the Strait of Hormuz—even for a brief period—will trigger a massive surge in oil prices, predicting that Brent crude could exceed $120 per barrel within days.
Speaking to Al Qahera News, Salameh explained that a six-month blockade could drive prices to between $150 and $200 per barrel, labeling the current situation the ‘largest crisis in oil history’ due to its unprecedented impact on global energy supplies.
He further noted that the repercussions would not end immediately upon the reopening of the Strait.
Salameh argued that Gulf nations would face limited capacity to ramp up production quickly, likely keeping prices elevated between $90 and $100 per barrel long after the crisis subsides.
He added that global powers like China, the US, India, and the EU are deploying various tools to manage the shortage, with China potentially leveraging its strategic alliance with Russia to secure its energy needs.
Expert warns of $200 oil in ‘greatest energy crisis in history’ Egypt Independent.
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