Oil price surges past $100 on Hormuz tensions

Brent crude oil prices have surged above $100 per barrel, a key psychological threshold, as ongoing tensions in the Strait of Hormuz rattle global energy markets. The price spike is a direct reaction to the prolonged U.S. maritime blockade of Iran and the persistent risk of supply disruption from the critical chokepoint. Market analysts point to the 'No Hormuz, no stable oil' dynamic as a fundamental driver of the volatility, with traders pricing in significant risk premiums. This development underscores the severe economic impact of the geopolitical standoff, which shows no signs of immediate resolution.