NickGiambruno on Nostr: If war with Iran proceeds and Tehran closes the Strait of Hormuz, I think the effect ...
If war with Iran proceeds and Tehran closes the Strait of Hormuz, I think the effect on the price of oil will be at least as severe as it was during the 1973 oil shock, which saw oil prices go up 4x.
A similar move today could see oil prices around $300 a barrel.
However, I consider that a conservative estimate because closing the Strait of Hormuz would cause a much larger supply shock than the 1973 OPEC oil embargo.
Published at
2025-02-01 11:25:51Event JSON
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