Of course I think that it would be safe to assume that the price of oil would rapidly surpass the $100 mark, and if it stays there for an extended period of time that would be enough to push us into a recession all by itself. Shockingly, as you will see below, there is one official in the Middle East that is convinced that the price of oil could go up to $300 a barrel if Iran closes the Strait of Hormuz. At the end of last week the price of oil was up about 5 dollars a barrel, but if the Strait of Hormuz gets closed that will send the price of oil into the stratosphere.
Author: Michael
Published at: 2025-06-15 20:49:15
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