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Analyst: Oil Prices Set to Surpass $100; No Solution in Sight for the Strait of Hormuz Stalemate
06/03/2026 07:35
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Svmuu News: With the Strait of Hormuz effectively still closed to shipping, supply concerns have pushed crude oil futures to a nearly two-year high. Peter Cardillo of Spartan Capital stated in a report: “ "We believe crude oil prices may accelerate toward $100 per barrel, as the closure of the Strait of Hormuz will remain a challenge in the medium term." He believes that "there is currently no easy solution to quickly resolve the supply disruption." (Jin Shi)
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