Amrita Sen predicts oil prices could exceed $100 per barrel as U.S. strikes against Iran threaten the Strait of Hormuz.
Amrita Sen, founder and director of research at Energy Aspects, stated that oil prices could reach triple digits as tensions between the U.S. and Iran disrupt global energy shipments. The Strait of Hormuz, which handles approximately 20% of the world's oil traffic, faces potential delays following a series of U.S. military strikes. The conflict intensified after the U.S. military confirmed a third service member was killed in recent operations. American forces completed nine consecutive nights of strikes targeting Iranian coastal surveillance, air defense systems, and maritime assets. These actions aim to degrade Iranian military capabilities that threaten commercial vessels and civilian mariners. While Iran claims full control over the waterway, Sen noted that the market remains somewhat complacent. She suggested that depleted global inventories and a substantial slowdown in shipping traffic are primary drivers for the price increase. Despite previous price fluctuations, Sen believes the current momentum could push the benchmark Brent crude past the $100 mark.