US-Iran conflict risks pushing oil prices above $150 amid Strait of Hormuz closure and supply shortfall.

The ongoing US-Iran conflict has led to the closure of the Strait of Hormuz, a critical oil transit route, causing a supply shortfall estimated at 9-12 million barrels per day. US President Trump warned of continued strikes on Iran for another 2-3 weeks, including potential attacks on Iranian energy infrastructure if no deal is reached. Analysts from UBS and JP Morgan warn that this disruption could push oil prices above $150 per barrel, with global inventories falling to their five-year average. The situation keeps energy markets on edge, with European oil majors currently undervalued despite rising oil prices, and JP Morgan recommending overweight positions in key companies like Shell and TotalEnergies.