business / news / / The Economic Times
Crude prices have rallied sharply since the conflict erupted in late February.
Morgan Stanley warns that a prolonged Strait of Hormuz closure could force a sharp oil price surge.
KEY POINTS
- 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
Summarized by Newsio from The Economic Times. How we summarize →