# Crude prices have rallied sharply since the conflict erupted in late February.

*business · news · 2026-05-11 · The Economic Times*

## Key points

- Morgan Stanley warns that a prolonged Strait of Hormuz closure could force a sharp oil price surge.
- US crude exports and reduced Chinese imports have offset 9.3 million barrels per day of supply tightness.
- Morgan Stanley's bullish scenario predicts Brent crude could reach $130-$150 a barrel if disruptions persist.
- The US may soon struggle to sustain elevated oil exports, making future supply buffers uncertain.
- Saudi Aramco CEO revealed the world has lost about 1 billion barrels of oil supply in two months.

**Companies:** Morgan Stanley, Saudi Aramco
**Countries:** United States, China, Iran

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/markets/stocks/news/morgan-stanley-warns-oil-market-in-race-against-time-as-strait-of-hormuz-remains-shut-amid-iran-war/articleshow/131005993.cms)

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