Afghanistan, July 13 -- Growing military tensions between Iran and the United States in and around the Strait of Hormuz could push global oil prices above $80 per barrel if the conflict escalates, particularly if shipping or energy infrastructure is disrupted, according to an energy expert.
Umud Shokri, an energy specialist and senior research scholar at George Mason University, told Al Jazeera on Sunday, July 12, that financial markets are increasingly pricing geopolitical risks into crude oil as military exchanges continue in the Gulf.
Shokri said traders are likely to assign a higher geopolitical risk premium to Brent crude if hostilities persist. He added that the greatest risk to global energy markets would arise if fighting disrupts...