According to their estimates, Saudi Arabia is currently selling oil through the Red Sea at a price of about $125 per barrel. In the event of further reductions in storage supplies, the cost could increase to $138-140 per barrel.
If the Strait of Hormuz remains blocked, the price could reach $150 by mid-April and rise to $165 and even $180 per barrel in the following weeks.
It is worth noting that the historical peak prices for Brent and WTI oil were recorded in July 2008, at approximately $147 per barrel.
