Oil could surge to $150 per barrel in prolonged Iran conflict, Slovak analyst warns

Oil prices could reach $150 per barrel if conflict with Iran escalates into a prolonged crisis, according to Slovak commodities analyst Boris Tomčiak. The Strait of Hormuz crisis threatens one-fifth of global oil supply, though recent statements by Donald Trump that any war with Iran would be resolved quickly have temporarily calmed financial markets. Brent crude oil prices dropped from approximately $105 to $90 per barrel following Trump's comments. However, Tomčiak warns that volatility remains high and future developments will depend on the security of shipping traffic through the strait. The Strait of Hormuz is a critical chokepoint for global energy supplies, making any disruption to maritime traffic a significant concern for world oil markets.