Oil markets are bracing for a potential surge to $100 a barrel as a fresh blockade of the Strait of Hormuz intensifies pressure on already depleted global energy supplies.
Analysts warn that the combination of restricted transit and low inventory buffers could trigger a severe supply shock, with prices days away from another steep rise into triple-digit territory.
The blockade has triggered a surge in global oil prices, with Brent crude futures climbing above $75 a barrel in early trading as traders priced in the immediate risk of supply disruption.
The escalation follows the United States' reinstatement of a maritime blockade on Iran, a move that immediately heightened shipping risks in the critical chokepoint.
This development marks a sharp reversal in diplomatic posture, replacing previous toll-based mechanisms with direct naval restrictions.
The blockade has triggered a surge in global oil prices, with Brent crude futures climbing above $75 a barrel in early trading as traders priced in the immediate risk of supply disruption.
The severity of the potential price spike is amplified by the current state of global inventories, which have been depleted since the start of the conflict.