COMMERZBANK SAYS IF THE STRAIT OF HORMUZ WERE COMPLETELY BLOCKED, CAUSING SUPPLY TO FALL BY 20%, THE OIL PRICE WOULD LIKELY RISE TO OVER USD 100

- If the Strait of Hormuz were completely blocked, causing supply to fall by 20%, the oil price would likely rise to over $100 per barrel, Commerzbank said in a note on Tuesday.

The bank also added that a prolonged conflict could lead to supply difficulties and bottlenecks for aluminium, with a corresponding impact on prices.