Oil may break the 2008 record amid the conflict with Iran
According to their calculations, Saudi Arabia is currently selling oil through the Red Sea at a price of about $125 per barrel. As stockpiles decrease, the price could rise to $138-140.
If the Strait of Hormuz remains blockaded, the price of oil could reach $150 per barrel by mid-April, and then rise to $165 and even $180 in the following weeks.
It is worth noting that the previous record prices for Brent and WTI crude oil were set in July 2008, at around $147 per barrel.
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