Commerzbank forecasts that oil prices will exceed $100 per barrel if the Strait of Hormuz is fully closed, due to a 20% drop in supplies. A prolonged conflict could lead to aluminum shortages and price issues.
Commerzbank said in a note on Tuesday that oil prices are likely to exceed $100 per barrel if the Strait of Hormuz is completely closed, leading to a 20% drop in supplies. The bank added that a prolonged conflict could lead to supply problems, aluminum shortages, and price implications.
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