Oil crosses $100 for the first time since 2022 as Iran war keeps Strait or Hormuz closed, forces shut-ins

Oil prices have surged past $100 per barrel, a level not seen since 2022, driven by escalating geopolitical tensions in the Middle East. The closure of the Strait of Hormuz, a critical chokepoint for global oil shipments, is severely disrupting supply chains and forcing production shut-ins. This development signals significant inflationary pressures and potential economic headwinds, with energy companies likely to see boosted profits while consumers face higher costs. Investors should monitor geopolitical developments closely, as further escalation could lead to sustained price increases.