Oil May Spike to $200 If Hormuz Remains Shut, Fesharaki Says

FGE NexantECA Chairman Emeritus Fereidun Fesharaki says a prolonged ‘near-closure’ of the Strait of Hormuz could push oil prices to $150-$200/bbl in the next few weeks and trigger severe global economic fallout. He speaks with Haslinda Amin on “Insight with Haslinda Amin.”Source: Bloomberg

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By Bloomberg News

March 31, 2026 at 6:33 AM UTC

Updated on

March 31, 2026 at 8:32 AM UTC

Oil may surge to $150 or $200 a barrel if the near-closure of the Strait of Hormuz persists over the next six to eight weeks because of the Iran war, according to energy-market consultancy FGE NexantECA.

“Every week, 100 million barrels of oil is not going through, and every month, 400 million barrels are not going through,” Chairman Emeritus Fereidun Fesharaki said in a Bloomberg Television interview with Haslinda Amin. “So, within a period of time, these losses to the market will be astronomical.”