Hormuz Blockade Might Push Oil to $200 and Shake the Global Economy
A prolonged closure of the Strait of Hormuz could spark a global energy crisis, potentially driving oil prices near $200 per barrel. This chokepoint restricts over 11 million barrels daily, impacting LNG supply and prompting economic slowdowns. Wood Mackenzie’s scenarios range from rapid resolution to prolonged disruptions lasting until 2026.