On the seventh day of the Middle East conflict, traffic in the Strait of Hormuz came to a near standstill, with US crude oil prices surging by 17% at one point and natural gas skyrocketing by 9%.

The U.S.-led military strikes on Iran entered their seventh day, with commercial traffic in the Strait of Hormuz nearly coming to a halt, dealing a severe blow to global energy markets. Brent crude surged over 12% intraday to $94 per barrel, while WTI skyrocketed by 17%. An attack on Qatar's LNG facilities forced their closure, driving natural gas futures up by 9%. Goldman Sachs warned that if the blockade persists for five weeks, oil prices could exceed $100 per barrel, while Qatar’s Energy Minister forecasted a potential spike to $150 within two to three weeks.

wallstreetcn04:00

Trump's escort plan was decisively undermined by JPMorgan's calculations: if the Strait of Hormuz is closed for three more days, oil prices may spiral out of control!

JPMorgan's latest calculations have almost delivered a 'death sentence' to Trump's escort plan: if the Strait of Hormuz is closed for three more days, oil prices could spiral out of control. A total of 329 oil tankers are stranded in the Gulf, with an insurance shortfall of $352 billion that no one can cover. Goldman Sachs added: We have no confidence in Trump's escort plan.

Golden10 DataMar 6 19:51

Iran Conflict: Options the Trump Administration Can Pursue to Tame Surging Oil Prices

Seeking AlphaMar 6 18:43

Qatar: If the war lasts for several weeks, Gulf countries will be forced to halt production, and oil prices may surge to $150 within the next three weeks.

The escalation of conflicts in the Middle East is pushing the global energy supply system to a critical point. The Qatari Minister of Energy has issued the most severe warning to date: if the war persists for several weeks, energy-exporting countries in the Gulf region will be forced to completely halt production, delivering profound shocks to the global economy.

wallstreetcnMar 6 17:37

Express News | Qatar warns of potential collective production halt by Gulf exporters, with oil prices possibly surging to $150 per barrel.

BreakingsMar 6 17:20

The Trump administration has reportedly abandoned its efforts to manipulate the oil market and is also reluctant to tap into the Strategic Petroleum Reserve.

It is reported that the Trump administration has ruled out the option of having the Treasury Department trade oil futures, considering the market volume too large and the intervention effect limited, while remaining cautious about the option of releasing oil reserves. What measures does the White House have left to curb oil prices?

Golden10 DataMar 6 15:24