Analysts' forecasts revealed the possibility of US oil prices rising to more than 115 dollars per barrel during the current month, amid stalled talks between the United States and Iran, and President Donald Trump's announcement that he would impose a “blockade” on the Strait of Hormuz, according to what was stated by the The Kobeissi Letter account.

This reflects a potential jump in prices, after they recently fell to below $100 per barrel, as West Texas Intermediate crude is being traded at around 96 dollars, while the price of Brent Blend reached about 95 dollars per barrel.

Economists warned that economic activity could see a significant slowdown by mid-year if oil prices rise to 150 dollars per barrel and remain at that level for four months.

In the same context, Larry Fink, CEO of BlackRock, warned that the continued rise in oil prices could push the global economy into a severe recession, pointing to serious repercussions if tensions with Iran escalate and prices reach 150 dollars per barrel.
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