BlockBeats News, May 19th, Francisco Blanch, Head of Commodity and Derivatives Research at a U.S. bank, stated that the average price of Brent crude oil for the rest of the year reaching $90 per barrel would be the "best-case scenario." He pointed out that there is still a daily supply gap of 14% to 15% in global crude oil supply, amounting to 14 to 15 million barrels. If the "double blockage" of the Strait of Hormuz continues, oil prices could rise to $120 to $130 by late June to early July; if the conflict escalates further and disrupts oil infrastructure, prices could see an even more drastic increase.

With the crisis in the Strait of Hormuz unlikely to be resolved in the short term, several Wall Street institutions have raised their oil price expectations. Goldman Sachs had previously raised its year-end Brent crude oil target to around $90, while JPMorgan warned that if the maritime bottleneck remains closed for 4 weeks, the world may face a "catastrophic" oil shortage. Analyst Helima Croft of the Royal Bank of Canada also expressed skepticism about a return to normal shipping in June.

Currently, Brent crude oil has seen an 80% year-to-date increase, with the latest price at $109.26 per barrel. The Strait of Hormuz accounts for about one-fifth of global oil transportation, with the blockade having a particularly pronounced impact on the Asia-Pacific region and continuing to drive up global consumer and industrial costs. Data from Brown University shows that since the outbreak of the Iran war, U.S. consumers have incurred over $40 billion in additional fuel costs.