Oil Prices to Soar Amid Strait of Hormuz Tensions

Vandana Hari, Founder of Vanda Insights, warns that oil prices will continue to rise due to tensions between the US and Iran over the Strait of Hormuz.

Hari points out that crude futures do not fully reflect the physical market tightness, with diesel prices reaching $200 a barrel in Atlantic markets.

She also notes that even if the Strait of Hormuz were to reopen, markets would remain cautious due to doubts over the sustainability of any de-escalation.