The financier predicted a shock in the oil market with the closure of the Strait of Hormuz

The Strait of Hormuz plays an important role in oil supplies, and its closure could trigger a market shock. Evgeny Kogan, a financier, investment banker, and founder of the Bitkogan media system, told Izvestia on June 15.

"The closure of the Strait of Hormuz will be a very serious blow to the global economy and to global supplies. Because 20% [of oil] — we will talk about about 20 million barrels per day — will leave the world market if this happens. This can cause a real shock in the oil market," he explained.

According to him, such a situation can lead to a serious global crisis, but oil producers will benefit. Kogan stressed that this would be a plus for Saudi Arabia, Nigeria, Kazakhstan and Russia.

Shock shock: the effects of the Iran-Israel war on the economy

In case of closure of the Strait of Hormuz, oil prices may exceed $100

On the eve, Ismail Kousari, a member of the National Security and Foreign Policy Commission of the Iranian parliament, said that after the Israeli attacks, Tehran is considering the possibility of closing the Strait of Hormuz.

Alexei Pushkov, a member of the Constitutional Committee of the Federation Council, in turn, said that if Iran closes the Strait of Hormuz, the price of oil will rise to $130. According to him, even partial interruptions in oil supplies through the Persian Gulf in the context of a military conflict can lead to an increase in resource prices.