“If the status quo is maintained, where the majority of volumes from the Strait of Hormuz remain unable to flow, then prices are very low compared to the impact that will have on supply, demand of the market,” Kavonic told CNBC on Sunday. “Every week, you’ll be seeing over 100 million barrels not reach the markets, and that suggests prices should be heading well more than $100 a barrel.”
By Burkhard Bilger
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