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Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

January 8, 2020

Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday.

Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants increasingly concerned that the fallout could soon disrupt regional crude supplies.

It has thrust the world’s most important oil chokepoint back into the global spotlight.

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