Bank of France: The likelihood of short-term easing of tensions in Iran is low, and Brent oil prices are likely to rise to $150.

Sina Finance News on March 30th reported that according to Societe Generale, due to the actual closure of the Strait of Hormuz possibly lasting until next month, it is expected that the average price of global oil benchmark Brent in April will be around $125 per barrel. Analysts like Mike Haigh wrote in the report that with the revised outlook, there is a real risk of Brent oil prices rising to $150 per barrel. Analysts stated that if the Strait of Hormuz at the southern end of the Red Sea is effectively blocked, oil prices could increase significantly. They said that the region is "basically paralyzed, with only limited alternative transportation routes through Saudi Arabia and the United Arab Emirates, and sporadic Iranian vessels passing through". They said that the escalation of the US-Iran three-way confrontation "eliminates any realistic possibility of easing the current situation in the near term". The full-year Brent oil price expectation has been raised from $65 per barrel to $80 per barrel.