J.P. Morgan expects oil prices at $150

A de facto blockade of the Strait of Hormuz for another month may lead to a rise in Brent crude oil prices to $150 per barrel, Bruce Kasman, chief economist at the American bank J.P. Morgan, said in an interview with The Times, Report informs.

A scenario in which the strait remains closed for another month may lead to a rise in oil prices to $150 per barrel, as well as create difficulties in supplying electricity to industrial consumers, he noted.

On March 30, the price of Brent crude oil futures for June 2026 delivery on London's ICE exchange exceeded $115 per barrel for the first time since March 19, 2026, but subsequently fell to $112.78 per barrel.