#Hürriyet։ "Oil prices will rise if Iran closes the Strait of Hormuz"
![]() 2473 Monday, 16 June, 2025, 16:04 Oil prices could rise to $130 per barrel if Iran decides to close the Strait of Hormuz, the Turkish newspaper Hürriyet reports. Tehran is considering closing the Strait of Hormuz after Israel’s attacks on Iran, Esmail Kusari, a member of the Iranian parliament’s National Security and Foreign Policy Committee, said on June 14. “If Iran closes the Strait of Hormuz, there are fears that oil prices will rise to $120-130. 20% of the world’s oil supplies pass through the Strait of Hormuz, and 80% of Iran, Saudi Arabia and the United Arab Emirates’ oil and liquefied natural gas (LNG) trade is carried out through the Strait of Hormuz,” the newspaper reports. The publication suggests that the conflict between Israel and Iran will continue for some time. "The impact of the war on the economy depends on how long these attacks continue and whether they intensify or not. If the war continues, there are fears that it will have a devastating impact on the economy. However, if the war ends within 14 days, as planned, the impact on the economy will be limited," the newspaper writes. |
Brazil vows to match US tariffs after Trump threatens 50% levy
253Yesterday, 19:04Slovakia maintains veto on new package of EU sanctions against Russia
51209.07.2025, 20:46President Trump announces new tariffs on Kazakhstan, citing trade imbalance
92007.07.2025, 22:58"Flight cancellations cost airlines more than $250 million". #Kommersant
83507.07.2025, 15:35"Trump's BRICS Policy Has No Future" - Chinese Foreign Ministry
86007.07.2025, 12:59"A 10% additional tariff will be imposed on countries that support BRICS" - Trump
74407.07.2025, 11:10House sends GOP’s ‘big, beautiful bill’ to Trump’s desk in major win for Republicans
114604.07.2025, 00:16Canada transfers US$1.7bn in revenues from frozen Russian assets to Ukraine
136230.06.2025, 21:40