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Citi Says Oil Prices Could Surge to $130 A Barrel if Strait of Hormuz Remains Closed

Posted on April 21, 2026
By International Business Times
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Citi Says Oil Prices Could Surge to $130 A Barrel if Strait of Hormuz Remains Closed

Citi analysts warned of how quickly the oil market could tighten if the Strait of Hormuz does not fully reopen soon, noting that crude could climb as high as $130 a barrel.