Rystad: U.S.-Iran Re-Escalation Could Drive Oil To $180 By August

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Rystad Energy predicts that a sharp escalation in U.S.-Iran tensions and a possible blockade of the Strait of Hormuz could push global crude oil prices to $180 per barrel by August. The scenario involves military strikes and infrastructure damage impacting energy supply routes.

An acute re-escalation in the U.S.-Iran conflict and a prolonged blockage of the Strait of Hormuz could drive global crude oil prices to $180 per barrel by August, Jorge León, Head of Geopolitical Analysis at Rystad Energy, has projected on CNBC's Squawk Box Europe. According to Rystad's León, this extreme bull-case scenario would materialize in the form of prolonged military strikes, physical damage to infrastructure or full Strait of Hormuz blockade. León says that whereas recent de-escalation talks and temporary ceasefires…