$200 A Barrel Oil? - Bloomberg Says It's Possible - CleanTechnica

The article discusses growing concerns among US government officials and Wall Street analysts that oil prices could surge to an unprecedented $200 a barrel due to ongoing geopolitical tensions affecting global supply routes, particularly the closure of the Strait of Hormuz. This closure is estimated to reduce global oil flows by about 11 million barrels per day, resulting in a net shortfall of approximately 9 million barrels daily after accounting for mitigating measures such as emergency stockpile releases and sanction relaxations on Russian and Iranian oil. TotalEnergies CEO Patrick Pouyanne warns that if the crisis persists beyond a few months, it could cause systemic disruptions to the global economy. Liquefied natural gas (LNG) supplies face even greater risks due to limited alternative routes and minimal strategic reserves, with damage already reported at major LNG facilities. Despite these risks, oil prices have not yet reached panic levels, trading around $116 a barrel—significantly below the 2008 peak of $147.50—partly due to assumptions that