Morgan Stanley warns of oil price crisis as Strait of Hormuz closure continues

Morgan Stanley warns of a potential oil price crisis, forecasting Brent crude to reach $150 per barrel by summer 2026 if the Strait of Hormuz remains closed. This scenario is driven by dwindling global oil reserves and a lack of alternative supply routes, potentially triggering a stagflationary environment. The crisis is particularly concerning for Asia, which relies heavily on imported oil.