The Worst Case Scenario for Oil Is Here. $100 Crude Could Be Coming.

Core Viewpoint - The ongoing conflict between the U.S. and Iran has created a worst-case scenario for the oil market, potentially leading to oil prices exceeding $100 per barrel, a level not seen since 2022 [1] Group 1: Oil Market Impact - The closure of the Strait of Hormuz, a critical passage for 20% of the world's oil supply, is a significant concern that could drive prices higher [1] - A prolonged closure of this strait could result in international oil prices spiking above the $100 per barrel mark [1]