Gate News reports that on March 31, energy market consulting firm FGE NexantECA stated that if the near-closure of the Strait of Hormuz caused by the Iran conflict persists for the next six to eight weeks, oil prices could soar to $150 or even $200 per barrel. The company’s honorary chairman, Fereidun Fesharaki, pointed out: “If 100 million barrels of oil cannot pass through each week, then 400 million barrels cannot pass through each month. Over time, the losses the market suffers will be astronomical.” Fesharaki expressed skepticism about the effectiveness of Trump’s verbal interventions (including comments about potentially ending the conflict), believing that what ultimately drives prices is the “physical reality” of the Strait of Hormuz being physically closed. He stated: “As long as the Strait of Hormuz is physically closed, prices will naturally rise. No matter what Trump says politically, it will be of no use.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Galaxy Research Chief: U.S. OFAC Sanctions List Involves 518 Bitcoin Addresses
The U.S. Treasury's OFAC sanctions list includes 518 Bitcoin addresses that have significantly engaged in crypto transactions, currently holding about 9,306 BTC valued at $707 million, highlighting the relationship between cryptocurrency and financial regulation.
GateNews1h ago
French Finance Minister: Euro-Based Stablecoins Vital to European Financial Sovereignty
French Finance Minister Roland Lescure has called on European banks to aggressively develop euro-based stablecoins and tokenized deposits to challenge the overwhelming dominance of the U.S. dollar in digital payments.
Key Takeaways:
Roland Lescure urged EU banks to launch euro stablecoins
Coinpedia2h ago
Bitcoin Swings on Hormuz Strait Reports, Triggering $762M in Liquidations
Bitcoin rose to $78,000 but dropped to $76,091 following reports of tensions in the Strait of Hormuz. Iran's actions triggered $762 million in liquidations among traders, with implications for crypto markets as Iran accepts payments in bitcoin and other currencies to navigate sanctions.
GateNews3h ago
U.S. Military Plans to Board and Seize Iranian-Linked Vessels in International Waters
U.S. military officials announced plans to board and seize Iranian-linked vessels in international waters, marking an escalation in operations targeting Iran's maritime assets beyond the Middle East.
GateNews3h ago
Iran Reports 3,468 Deaths in U.S.-Israel Conflict, Official Register Updated
Iran's Martyrs and Veterans Affairs Foundation has reported 3,468 Iranian personnel casualties in the U.S.-Israel conflict, according to Chairman Mousavi and state media.
GateNews3h ago
Ukraine's Prosecutor General Classifies Kyiv Shooting as Terrorist Attack
Ukrainian Prosecutor General Irina Kravchenko announced that a shooting in Kyiv has been classified as a terrorist attack, prompting criminal proceedings under national law. The investigation is ongoing.
GateNews3h ago
