Global oil markets are on the brink. According to Goldman Sachs and the US Energy Information Administration, we may be witnessing the largest oil supply shock in modern history. With disruptions in the Strait of Hormuz—a route carrying nearly 20% of global oil and LNG—prices are surging fast.
Brent crude is already above $100, diesel has spiked past $5, and jet fuel costs are crushing airlines like Delta Air Lines and American Airlines. If the conflict continues, analysts at Citigroup warn oil could hit $200 per barrel.
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