MOSCOW (March 31): Oil prices could rise to US$150 (RM607.12) per barrel if the Strait of Hormuz remains closed for another month, said Bruce Kasman, the chief economist of JPMorgan. "A scenario in which the strait remains closed for an additional month would be consistent with oil prices rising towards US$150 a barrel and constraints on industrial consumers of energy supply," Kasman said, as quoted by The Times. On Feb 28, the US and Israel began striking targets in Iran, including Tehran, causing damage and civilian casualties. Iran is carrying out retaliatory strikes on Israeli territory, as well as on US military targets in the Middle East. As a result, fuel prices are rising in most countries around the world.

Source: The Edge Markets March 31, 2026 09:27 UTC