Oil Extends Gains on Rising Tensions in Persian Gulf

The video discusses the recent uptick in the oil market due to rising tensions, particularly around the Strait of Hormoz. Despite this, the US-China trade war has been a significant factor affecting oil demand. Analysts predict that an outright conflict could cause oil prices to spike significantly. The potential closure of the Strait of Hormoz could have a major impact on oil and LNG prices, with implications for insurance and vessel availability.

What are some scenarios analysts are considering regarding oil prices in the event of a conflict?

How might the price of liquefied natural gas be affected by a larger conflict?