JP Morgan Sees $150 Oil if Hormuz Remains Closed Through Mid-May
Oil prices could top $150 per barrel if energy flows through the Strait of Hormuz remain disrupted through the middle of May, according to JP Morgan. Prices are headed to $120-$130 per barrel in the very near term, the investment bank said in a note carried by Reuters. At Thursday’s close, oil prices surged, with the U.S. benchmark WTI Crude soaring past Brent Crude and settling at $111.50 per barrel. The international benchmark closed at $109 a barrel on Thursday, the last trading day of this week, as markets are closed on Good Friday. JP…