Impending US Strait of Hormuz blockade sends oil prices soaring

https://www.youtube.com/watch?v=8RnJOUrmzVM

Oil prices are surging because the U.S. blockade of the Strait of Hormuz threatens a route that carries about one-fifth of the world’s oil and liquefied natural gas. Brent crude jumped above $100 a barrel, and analysts warn prices could climb further if the disruption lasts.

What’s driving the spike

The blockade is aimed at choking off Iranian oil revenue, but it also tightens global supply and raises the risk of wider shipping disruption. With oil and gas flows through the strait already constrained by the conflict, markets reacted quickly to the latest escalation.

Why markets are nervous

Because so much energy passes through this narrow waterway, even the threat of prolonged interference can push prices up fast. Some analysts are warning that if the Strait of Hormuz stays blocked, crude could move even higher from current levels.