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S&P Global Report on Crude Oil: S&P Global has released its report on crude oil prices due to the ongoing conflict between Iran and Israel. In which it has been warned that the ongoing conflict between America and Iran could become the biggest obstacle to global oil supply so far.
Most concern has been expressed in the report regarding the Strait of Hormuz. Where the situation can become very serious if the movement of oil reduces or stops completely. Based on data from Commodities at Sea, the report said that only five oil tankers passed through this route on March 1. Whereas in recent times, on an average about 60 tankers were passing through here every day. Let us know, what information has been given by S&P Global in its report?
What does the report say?
According to the report, if this blockage in traffic through the Strait of Hormuz continues for a week, it will be included in historical events. In the months of January and February in the year 2026, there has been movement of 20.8 million barrels of crude oil and other products every day through the Strait of Hormuz. Of these, 82 percent reached Asian markets.
S&P has said in its report that, if this route is closed then there will be a deep impact on the energy supply. Due to which countries may have to face economic losses. If this blockage continues for a longer period, crude oil prices will rise.
Relief if supply becomes normal, crossing $100 possible due to long shortage
According to the S&P report, the biggest impact of reduction in supply will be seen in markets where reserves are already low. If the shortage of 7 million barrels per day continues for several months, there will be pressure on demand due to limited supply.
Due to which the prices can go up to $ 100 per barrel or above. However, the report also says that if the conditions become normal then the price of crude oil may remain around $80.
Crude oil movement in short term
The report has also indicated that sharp fluctuations in oil prices may be seen in the short term. Things like panic and apprehensions in the market can affect the prices.
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