Morgan Stanley warns oil market in ‘race against time’ as Strait of Hormuz remains shut amid Iran war

Morgan Stanley warned of potential further increases in oil prices if the closure of the Strait of Hormuz persists, citing concerns about the energy supply capabilities of the United States and China. Amidst recent rejection of the US President's Iran proposal and upcoming talks with China, international attention is focused on the situation. Continued instability in the energy market could lead to a sharp rise in oil prices and significant impacts on the global energy supply chain.