Oil Could Hit $150 If U.S.-Iran Ceasefire Collapses

Oil prices could hit $150 per barrel if hostilities between the United States and Iran escalate further from the current, most testing period in the ceasefire, according to intelligence firm Rystad Energy.

Renewed hostilities would further deepen the supply shut-ins in the Middle East as the war risk and the near-closed Strait of Hormuz continue to pressure upstream production, the Norway-based energy research company said.