Attack on tankers near Strait of Hormuz will lead to crude price rise: Jonathan Barratt, Probis Sec
  • WebDesk BTVI
  • Jun 14 2019

Jonathan Barratt, CIO of PROBIS Securities, says the attack on oil tankers in Gulf of Oman is important as it is near to Strait of Hormuz which accounts for nearly 20% of all crude oil movement. He says that any unrest in this strategically important area will affect oil movement and oil prices, and adds that further escalation may lead to crude price hike by $5-7/bbl.