Onyx stated that if the United States really blocks the Strait of Hormuz, the price of oil may rise to $150 per barrel.

Jorge Montepeque, Managing Director of Onyx Capital Group, stated that the numbers he saw this morning - $103; up 8% - completely do not reflect what would happen if the United States were to actually decide to implement a lockdown. This makes no sense at all. Oil prices should be at $140, $150. Montepeque stated that a lockdown in the United States could escalate a regional conflict into a global one, leading to a daily supply reduction of up to 12 million barrels.