Global crude oil prices may hit USD 120/barrel in short term, USD 150 if gulf war extends over a month: Kotak's Chainwala

Crude oil prices may surge to USD 120 per barrel soon. Extended conflict in West Asia could push prices to USD 150. Supply disruptions in the Strait of Hormuz are causing significant losses. Emergency reserves offer limited relief. A de-escalation could lead to sharp price drops. Indian crude prices on MCX might climb 20-30 percent.