Dubai: Another month of disruption in the Strait of Hormuz could push global oil prices sharply higher, according to a leading economist at JPMorgan Chase. Bruce Kasman, the bank’s chief economist, stated that a prolonged closure of the vital maritime route could drive Brent crude to as much as $150 per barrel, significantly above current levels.
According to Azeri-Press News Agency, Kasman emphasized that a scenario where the canal remains closed for another month could lead to oil prices rising to $150 and disruption of electricity supplies for industrial consumers. The Strait of Hormuz is one of the world’s most critical energy chokepoints, with a substantial share of global oil shipments passing through it each day. Any sustained interruption is widely seen as a major risk to global energy markets and economic stability.
Market volatility has already been evident. On 30 March, Brent crude futures for June 2026 delivery on the London ICE exchange briefly rose above $115 per barrel – the highest level since 19 March – before easing back to $112.78. Analysts say further escalation or continued supply disruptions could intensify pressure on energy prices, with knock-on effects for inflation, industrial output, and global growth.