Strait of Hormuz Crisis: Idemitsu Kosan Reroutes Oil, ING Forecasts $150 Brent

Amid concerns over stable crude oil supply following a de facto blockade of the Strait of Hormuz, Idemitsu Kosan has decided to supply crude oil to Vietnam via a non-Hormuz route. Concurrently, ING has forecasted Brent crude oil prices could hit $150 per barrel due to a re-escalation of the crisis.