Oil Prices to Hit $200 per Barrel if Disruption Continues

Crude oil prices have rebounded after a sell-off, with Brent futures up 4% to $103 per barrel and West Texas Intermediate futures trading around $92. Citi analysts predict prices will reach at least $120 per barrel due to the Strait of Hormuz's de facto closure, and potentially $200 per barrel if disruptions continue through June. The analysts suggest hedging oil-price risk with energy and agricultural commodities.