FGE NexantECA warns oil could spike to $200 or beyond within weeks if the Strait of Hormuz remains near-closed, with a global recession at stake.
Oil prices could jump to $200 per barrel and even higher if the Strait of Hormuz remains near-closed as it is at the moment, Fereidun Fesharaki, Chairman Emeritus of energy consultancy FGE NexantECA, told Bloomberg on Tuesday.
Although the oil market... [2274 chars]