Estibnian: Oil expected to reach $110

Harry Estebanian, co-founder of IC3, expected the price of oil to rise to $110 per barrel soon, especially if the conflict in the Bab el-Mandeb Strait, a vital point for oil transportation, escalates. He explained that expanding tensions in the region could have a significant impact on global oil markets, with projections of a supply crisis that might lead to price hikes, increasing pressure on global markets and threatening energy supply stability.

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