If the Hormuz crisis persists, oil prices could surge to $150

On April 28, as US-Iran negotiations remain deadlocked and shipping through the Strait of Hormuz is obstructed, international oil prices have strengthened again, with WTI crude returning to the $100 mark, both US and Brent oil prices rising over 2% intra-day.
According to the White House, President Trump and the national security team have reviewed Iran's latest proposal. Iran hopes to restart shipping through the Strait of Hormuz in exchange for the US lifting port sanctions and halting hostile actions, but Trump stated that sanctions would only be relaxed if the agreement is "100% implemented," and the two sides have not yet reached an agreement.
Tamas Varga, senior analyst at PVM Oil Associates, warned that if the conflict continues long-term, breaking the $150 mark is "not impossible." He pointed out that the current global lack of sufficient alternative energy sources to fill the supply gap means that if supply disruptions extend, the loss of supply will surpass the impact of demand contraction.
Andy Lipow, president of Lipow Oil Associates, also said that even if the conflict ends immediately, clearing mines, unclogging oil tanker congestion, and restoring production will still take several months, and it is expected that the oil market will take at least 4 to 6 months to stabilize.
Meanwhile, several Wall Street institutions have simultaneously lowered their expectations for oil market recovery. Goldman Sachs has delayed the resumption of Gulf energy exports until the end of June; Citibank predicts that if the Hormuz Strait blockade continues until the end of June, Brent crude prices could rise to $150 per barrel.