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The Economic Times

Markets / The Economic Times

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Oil could top USD 100 as Strait of Hormuz closure halts flows

Oil prices could exceed USD 100 per barrel if tanker traffic through the Strait of Hormuz is not swiftly restored, as the waterway's closure threatens to disrupt 15 per cent of global oil supply and 20 per cent of global LNG supply, consultancy Wood Mackenzie said.

2 Mar 2026 1:37 pm