Vitol CEO: $200 oil possible if Gulf of Oman STS transfers halt

Vitol CEO Russell Hardy warns that without ship-to-ship transfers in the Gulf of Oman, oil prices could reach $200 a barrel, as Western inventories are depleted. The transfers are a critical lifeline for Gulf producers and the oil market, but their continuation is uncertain due to regional tensions. This highlights the fragility of oil supply chains and the potential for a severe price spike.